UK goes all in The UK bond market fell off a cliff with 5 year yields shooting straight past 4%. Sterling fell to 40 year lows too, just to make sure foreign investors took a proper pummelling. The Chancellor then jumped on the Sunday morning TV shows promising more of the same, prompting further collapses

Art Scott is the CEO of Masterworks, a business that allows people to buy fractional stakes in artwork. His claim, which is nominally true, is that art has historically “returned” 23.2% annually. It’s an interesting business, but more interesting because art actually returns nothing at all. There is almost no better example of an asset

Merge complete Ethereum’s Merge completed last night around 4.30pm Australian time. Bizarrely, it was marked by the appearance of Pandas for those running Ethereum nodes. Perhaps a more robust species could have been chosen? It was a complete non-event which is exactly what was hoped for. Blocks continued being produced and some 18 hours on,

Gas again The latest EU plan to address the gas crisis is barrelling into view. After the single largest one day fall in gas prices ever last week, Russia responded by turning gas off completely. The response was predictably perverse from Ursula von der Leyen, a person not fit to care for goldfish, less still

The magic of forecasting That cartoon is from the early 1980s; not much changes. On that theme, the whole market took a dive last week as Jerome Powell reaffirmed his commitment to higher interest rates and fighting inflation. He couldn’t really say anything else though, could he? The strange thing is the Federal Reserve now