GBP – Market turmoil continues The markets have been in continual turmoil over the past week. Equity markets have slid further, while government bond yields have hit new lows. Inversions of the US and UK yield curves are said to signal a strong likelihood of recession. Comments from both US and China sources added to the pessimism of continued trade tensions dragging on global growth. Last week, stronger-than-expected employment (+115k), CPI inflation (2.1%) and retail sales numbers (+0.2%) had little impact on markets. The Bank of England is only likely to raise interest rates once current uncertainties are resolved. Slightly
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