Here is the 7.01am express from The Bank of England, a now daily bullet train designed to put the Fear of God into Liz Truss.
Some stand out words: Dysfunction, self-reinforcing “fire sale” dynamics, a material risk to UK financial stability.
Why the latest intervention in the bond markets? “To help restore market functioning and reduce any risks from contagion to credit conditions for UK households and businesses.”
The point about gilts is that in so far as UK households even directly come across them it is as the super-boring part of their pension funds. The bit that doesn’t earn much, but simply never goes wrong.
Sky’s Ed Conway says: “The government bond market is - in the UK and elsewhere - best thought of as the bedrock of the financial system.”
The Bank says boring old bonds might be about to screw us all up in language anyone can get. (Yes, even the PM.)
4) Ferrexpo suspends production after Russian attacks. The Times
Journo move of the day
This is Sabah Meddings’ last week as Chief Business Correspondent at The Sunday Times. She is to join Bloomberg as UK Business Reporter, from Monday October 31st.
PR moves
Sarah Pinch, previously Head of Social, PR & Influence at Red Brick Road, is now Managing Director, Social & Influence, for Ketchum.
Jack Neill-Hall, previously Head of Public Relations at TheCityUK, is now Director of Media and Communications for The Association of the British Pharmaceutical Industry.
Laura Salvage, previously Account Director at The PHA Group, is now an Account Director for Hume Brophy.
PR jobs
Palatine is a strategic communications consultancy, based in London’s West End, specialising in financial PR, litigation PR and other forms of reputation and issues management. We have the privilege of partnering with companies, individuals, investors and litigants at critical or difficult moments, when communicating clearly and persuasively is essential. We want to hire a mid-senior level consultant to provide expert strategic counsel to existing clients, lead client accounts, manage members of our internal team, and help identify and deliver new business opportunities. Ideal candidates will have 8-10 years’ workplace experience, including significant experience within a PR agency environment in financial and/or litigation PR. Excellent writing skills, a demonstrable understanding of finance and corporate governance, and the ability to advise senior-level clients are all essential. Experience in other professional areas, particularly journalism, would also be highly valued. We offer interesting work and great client exposure, a collegiate and unhierarchical environment, and very competitive pay and benefits. Please contact conal.walsh@palatine-media.com in complete confidence if you are interested.
Another Word is an award-winning corporate and B2B PR agency based in Central London working with clients across a range of sectors from FMCG to tech. We’re looking for an Account Executive and Senior Account Director/Associate Director to join our team. Another Word is an agency that prioritises culture, coaching and career development, where everyone pulls together to do great work for ourselves and our clients. To find out more contact hr@anotherword.com or see more here.
Victoria Scholar, head of investment, Interactive Investor
Tamer Ozmen, CEO, Mintus
Oliver Shah, associate editor, The Sunday Times
Results, updates and diary events
Results
Asos, Kin+Carta
Traders
PageGroup, QinetiQ
Economics
UK GDP
FOMC minutes
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