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Like we’ve seen at times during the pandemic, there is a big asymmetry in what’s good and bad for the economy and markets. Bad news for the economy could well be seen as good news for markets. The fact that job growth has fallen well behind expectations may be interpreted as meaning the Fed’s starting line for tapering could be pushed that little bit further away

Lloyds finds some support as the Dollar sold off against the Euro and Pound in the wake of the release of the U.S. jobs report for September which came in softer than economists were expecting

Last month saw the US economy add 194,000 jobs, down from the 366,000 a month earlier and also comparing badly with the average forecast of around 500,000.

The US Bureau of Labor Statistics revealed that the unemployment rate improved to 4.8% from 5.2%, which was better than the 5.1% predicted.

Average earnings were 0.6% higher than the preceding month, which was also stronger than the 0.4% consensus and up from a revised 0.4% in August. Compared to last year, average hourly earnings were up 4.6%, as estimates indicated.

The dollar has improved slightly against the pound but forex traders are not really sure what to make of it all yet, with the EUR/USD dancing this way and that.

FTSE traders are also undecided, it seems, and will probably wait until Wall Street shows them what to do.

LONDON, Oct 8 (Reuters) - Britain's transport minister Grant Shapps said on Friday there was still no exact date on when the United States would open for travellers from the United Kingdom, beyond guidance of early November.

Asked on Sky News if he had a specific date for the U.S. reopening, Shapps said: "I don't. I've been speaking to my opposite number, I spoke to the American ambassador a couple of days ago, they're still working through the technicalities of that."

https://www.reuters.com/world/uk/britain-says-exact-date-us-travel-reopening-still-not-known-2021-10-08/

NatWest pleaded guilty on Thursday to failing to prevent the laundering of nearly 400 million pounds ($544 million) and faces a heavy fine after becoming the first bank in Britain to admit to a criminal offence of this sort.

https://www.reuters.com/business/finance/natwest-pleads-guilty-money-laundering-offences-2021-10-07/

5,000 new banking jobs were created in June

https://www.cityam.com/london-banks-embark-on-record-hiring-spree-as-city-tilts-toward-post-brexit-future/

Huw Pill, the Bank of England's new Chief Economist

For markets, the important question is how Pill's view on the economic outlook will influence his vote on whether or not to raise interest rates in the near future.

"I would have judged the necessary condition embedded in the MPC’s forward guidance
to have been met at the August meeting," he said.

The forward guidance referenced by Pill states that, "there is clear evidence that significant progress is being made in eliminating spare capacity and achieving the 2% inflation target sustainably.”

On the face of this answer alone Pill would fall into the hawkish camp on the MPC, i.e. the group of thinkers who see fit to raise interest rates sooner rather than later.

LONDON, Oct 6 (Reuters) - Rising prices, supply chain disruption and staff shortages put the brakes on the recovery of Britain's construction sector last month, a survey showed on Wednesday, adding to signs that economic growth has taken a hit recently.

The IHS Markit/CIPS UK Construction Purchasing Managers' Index (PMI) fell to an eight-month low of 52.6 in September from 55.2 in August. A Reuters poll of economists had pointed to a reading of 54.0.

https://www.reuters.com/world/uk/shortages-surging-prices-stunt-uk-construction-growth-pmi-2021-10-06/

Good update from Elizabeth Hill this morning the photo clearly shows the silver veins and nickel sulphides in the core sample, the polymetalic halo found at the munni munni fault sounds exciting lets hope the can get the ultramafic rock of to the lab for sampling the team on the ground have updated us with excellent geological information I would of thought we'd get a rise in share price this morning

Bubble2021
Looks like markets are pricing in for rates rice moving up nicely

New Zealand's central bank hiked interest rates for the first time in seven years Lloyds looking to open lower on Wednesday as the choppy week continues ahead of Friday’s US Non-Farm Payrolls

Danni Hewson, financial analyst at AJ Bell. Rate-sensitive banking stocks are enjoying a boost as investors begin to seriously price in rate rises.

“But there are big questions about how the economy is really bouncing back, and cost pressures are taking their toll on businesses and the consumer."

"We also continue to believe UK’s attractive investment attributes and longer-term GBP undervaluation will act as a strong anchor for the pound." foreign exchange strategist at Barclays.

Economists at Barclays now see 2021 growth at 7.3% having upgraded it 0.9pp following the GDP release. Under their new profile, the UK economy recovers to its pre-pandemic level in the first quarter of 2022, a quarter earlier than previously forecast.

British Airways is rumoured to bring back the 600-seater Airbus A380, after grounding it more than 18 months ago.

https://www.cityam.com/british-airways-bring-back-superjumbo-jet-short-haul-flights/

Britain's economic bounce-back after coronavirus lockdowns is being hampered by problems in supply chains, a jump in inflation and the risk of a rise in unemployment, complicating the task for policymakers of steering the recovery.

https://www.reuters.com/world/uk/shortages-inflation-slow-growth-fog-uk-economy-2021-10-05/

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FTSE set to rebound this morning on the back of oil price spiking

European stocks struggled on Monday after their worst weekly showing since February, hit by a growing number of risks including signs of inflation, elevated bond yields and developer China Evergrande's financial troubles.

Banks chipmakers and luxury stocks were the top decliners on fears of a slowdown in global growth, as China, the world's second largest economy, deals with fresh COVID-19 restrictions, a property sector slowdown and regulatory clampdowns.

https://www.reuters.com/world/europe/european-stocks-add-losses-growth-worries-2021-10-04/

Australia's Qantas Airways Ltd and Dubai-based Emirates would extend their partnership for another five years till 2028, they said on Monday, as both airlines battle with the impact of the COVID-19 pandemic on international air travel.

https://www.google.com/amp/s/mobile.reuters.com/article/amp/idUSKBN2GU0IB

Jonas Persson, head of sustainability and ESG Finance at Lloyds Bank Commercial Banking, added:

“The UK has a real opportunity to play a leading role in the development of new green technologies around the world that will reduce the dependence on volatile fossil fuels. But for that to happen, the financial services industry needs to fund the investment required to help companies to transition their operations towards more sustainable technologies and solutions.

“At Lloyds Bank, we see the important role we can play in this regard and have a strong track record in supporting our clients during their transitioning journeys

https://www.lloydsbankinggroup.com/media/press-releases/2021/lloyds-bank/climate-change-rises-up-uk-financial-institutions-agendas.html(