(Bloomberg) -- Follow us at @BloombergUK and on Facebook, wrap up your day with The Readout newsletter with Allegra Stratton and listen to our weekly podcast In the City.
Good afternoon from Bloomberg’s UK finance team. We’ve lived through yet another week of market madness in the UK. If that wasn’t enough, Credit Suisse was in turmoil. Here’s five stories that sum up the past five days.
1) Hidden Pension Risks Exposed the Flaws in Britain’s Gilt MarketThe fallout from the turmoil in the City continued this week. Here’s a look at how a little-known investment strategy nearly broke the gilts market.
2) UK Five-Year Mortgage Rate Passes 6% as Kwarteng Meets BanksMortgage rates at 6% will cost the holder of a two-year fixed mortgage about £10,000 more over the period compared with the same type of home loan taken out last December.3) The City Pivots to Labour as Truss Project ImplodesTake a listen to this week’s In The City podcast, where David Merritt and Francine Lacqua explore why Labour may be gaining ground in the City.4) Odey’s Hedge-Fund Gains Surge to 193% on UK Market TurmoilCrispin Odey’s best year ever went to a new level. His hedge fund soared about 25% in September, benefiting from his long-running short bets against UK government bonds and pound.5) Credit Suisse Eyes Outside Money for Investment Bank SpinoffElsewhere one of the most venerable names in banking also had a rollercoaster of a week as the firm’s leaders aim to put the finishing touches on their planned overhaul. The Swiss bank is reportedly seeking outside investor to inject money into a spinoff of its advisory and investment banking businesses
©2022 Bloomberg L.P.
Advertisement