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" There are no winners here, only losers "

UK economy will fall further into a deeper and more prolonged recession !

Media and TUC bosses suggest, nearly 2 million Public Sector workers could be close to quiting their jobs over poor pay and working conditions.......... for some reason it seems like nobody wants to work anymore in the UK.

Brixton ( reply 10.35 post )

On the 3rd of November the MPC are likely to raise interest rates by 0.75% to 3% the largest monthly increase in rates since 1989, no Government Conservative or Labour will stand idly by and let 3 million households and families who are already in extreme financial difficulties risk eviction from their homes as the cost of living escalates.

They will have to be a major intervention and shared responsibility from both Government and Lenders to support these struggling borrowers and that will inevitably mean banks and shareholders picking up a substantial part of the bill for any financial measures and solutions introduced.

Potential windfall taxes levied on banks is only one of a number of political and economic factors currently suppressing UK banking sector share prices.

It's absolute madness to think house prices will keep on rising.
Housing market correction is long overdue and welcome.

Investors take fright at potential windfall tax plans for banks.

Can reclaiming " Populism" and economic fairness by Sunak, be enough to win back disenchanted voters for the Conservative Party before the next General Election ?

Halloween OBR data will confirm the harsh reality of Government finances.

Banking sector excess profits tax, and a possible change to dividend income and capital gains tax allowances for investors will be high on Sunak's new agenda for eliminating the nations black hole in public finances.

On the face of it, half decent set of quarterly results.

Once again muted reaction from markets, share price still down around 20% since the start of year.

OBR report and data due out Monday next week will make grim reading, and will suggest there is little chance of economic growth this side of an General Election.

Mixed bag of numbers for the bank, profits came in well above analyst estimates.

HSBC's net interest income swelled by 30% to $8.6 Bn Dollars the highest in eight years mainly due to rising interest rates.

A fact that will have not gone unnoticed by the new Chancellor.

hardup

All Sunak can do is to minimise further economic harm, he will never entirely eliminate the damage already done to the UK Economy.

The Tory Party have taken the UK into a very dark place, and won't be able climb out of the hole they are in before the next General Election.

Right decision !

Hard work and difficult decisions now lie ahead in restoring the UKs public finances, necessary unavoidable pain for households and taxpayers.

Going forward, we as a country are going to be a whole lot financially poorer.

TheFarEnd

All part of Putin's Master Plan : to destroy Europe, divide NATO and restore Russian power and Global influence.

Political interference is now the biggest risk for Lloyds.

The current financial climate and public attitude towards banks may well have taken the banking sector's future out of it's own hands.

Market Cap and Market Value shold not be confused.
While each is a measure of company assets, the two are vastly different.

Lloyds Banking Group is currently ranked 448th largest company by Market Cap in the World.

" Boris has a 100 MP backers now "

Haven't the Tory Party or Conservative Party membership learnt anything !

If true and Boris manages to pull this off, fasten your seat belts and adjust your trading portfolios accordingly, UK Economy and financial markets are in for a very rough ride indeed.

Boris back at the helm, therein lies the danger for the Bond Markets !

Penny Mordaunt would have been my preferred choice of new Tory leader back in the summer months, however a Sunack/ Hunt partnership is now essential to address this serious situation the UK now finds itself in, and prevent further financial market fallout.

Troajan

The UK seems to have imploded, the days of creme de la creme in the financial world and Triple A status are now long over.

Wids

UK financial market turmoil and political chaos, maybe a harbinger of Global events to come.

skier1

Latest ONS data suggests, UK is the only G7 country with a smaller economy than before covid, put simply they still haven't recovered to pre - pandemic levels of real GDP.

All other major economies in the G7 including France and Italy recovered strongly enough to be larger than they were at the beginning of the pandemic in February 2020.