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From the experts at Bloomberg;

The British pound fell to the lowest level in over a year on concern the Labour government will struggle to keep the deficit in check as borrowing costs surge. Investors have been irked by the government’s escalating debt burden and persistently high inflation for months. When a global selloff gathered pace this week, UK assets quickly took the lead.

Andy - what a great post - thanks. I would be fascinated to see similar for JD sports as they have a trading update on Monday and then comparison to real data/views would be possible.

UK stocks are really being beaten up atm and retail is in the worst position as analysts are anticipating the NI increase will really hit profits. However there will be 2 mitigating factors - efficiencies through trimming staff and price rises to compensate. I have been buying JD sports, B and M and Greggs when their sp were hit . I am down on them all but expecting a great recocery over the next year. JD sports my actually recover on Monday when its t/u is out.

STP, ref your pension - very likely it already has -if the fund is invested in equities they are down and if invested in bonds they are down.

Will a rival bidder emerge? Hope so!

Antony, who are the adults that can tell her what she needs to do? Andrew Bailey and the chief economist at the bank of England, Mohammed El Ehrian at Cambridge university, Catherine Mann plus many real economists at big city firms.

Gateboy, do you really think it would help if Reeves faced the music nd answered questions? She would quickly be exposed as not really up to speed and lacking any insights into what needs to happen. She needs to leave that to the adults and wait until they finish writing her a script imv.

I think that the market likes to take out people's stops and always over reacts on the way up and way down . Think we will be back up tomorrow by 4% at least.

Shear - I hope you are wrong. I have bought anothe £10k this morning in the belief that the business model is proven, the expansion plans are solid and it is cash generative so worth a bit of a premium. I have sold PSON to pay for this as that company looks way more expensive on fundamentals. Time will tell.

If we get a third day of rising yields tomorrow , something big will have to be done over the weekend - this has grown from a bad joke into a worrying situation and will soon be a crisis.

Every person in UK is adversly affected now.

And from Bloomberg;

UK markets tumbled today, pushing bond yields to the highest in more than a decade, as jitters over persistent inflationary pressures sparked comparisons with the 2022 gilt crisis. Benchmark 10-year yields jumped as much as 14 basis points to 4.82%, the highest since August 2008. The pound fell against all major currencies, slumping more than 1% versus the dollar, while UK stocks fell. Borrowing costs have already soared in recent days, pushing up 30-year debt costs to the highest since 1998. Investors are nervous and the market moves risk complicate the calculus for the government as it looks to finance its spending plans. The inflation outlook prompted traders to pull back their expectations for the Bank of England to cut interest rates this year. It is a headache for Chancellor of the Exchequer Rachel Reeves who has been trying to portray Labour as the party of financial discipline in order to attract international investment and bolster growth.

Don't you just love the words' trying to portray Labour as the party of financial discipline'

Says it all without adding ' and failing miserably'.

Gilts up yet again; 30 yr rate now 5.35%. It is around 1% higher than a year ago and the graphs on the attached show the increases at all points on the curve - disastrous for UK taxpayers - interest payments will be using the money needed for services or double digit pay rises for Train drivers or .....

https://www.marketwatch.com/investing/bond/tmbmkgb-02y?countrycode=bx&mod=mw_quote_tab

30yr gilts at highest rate since 1998 - now who was PM then? - Tony Blair of course!

Anyone else notice that Trump has RR on his private jet? Picture on the runway at Greenland airport.

Clearly a man of great taste and sophistication - lets hope he encourages more sales!

Just got a mention on IG TV - you tube channel - the presenter said he may put some of these into his isa! Lets hope others watching do similar!

Down 3% tody is my prediction.

Formerly, yes and no because the warrants were already issued , but of course when exercised there will be dilution but not something to worry about imv.

My take is that the increase in gilt rates has a double wammy here; the company borrowing costs rise , depressing profits and the divi yield here has to rise to remain competitive therefore the sp falls.

Rachel 's budget has caused gilts to rise.

Tony's weather is likely to be more of a depression than a tornado !

Jd, no expert but what next have done again this year is steadily increase their guidance and then beat it with final figures. Investors will love the figures out today and I expect plus 7% on their sp. Hopefully we will be dragged up . Frankly we make about the same profits as them but have a much much lower rating because our business looks less predictable and the comms are poor - even though our growth over the years has been much better. Hopefully regis will change the control and comms issues.

It is alledged that Gordon Brown as PM wrote to police chiefs effectively saying the victims had made lifestyle choices - so don't get involved. The issue for Starmer is was he DPP at the time , did he know and what did he do? So is he covering up a scandal that will rock labour to its core and also implicate himself? Ex labour mp's seemed to be saying that the down playing of ethnicity is very recent. Not great for UK plc this - makes the post office scandal look like the warm up act !