6th September 2013
1) Surprise, surprise, and true to its ‘forward guidance’, the Bank of England kept interest rates on hold. But Shaun Richards, in this article for Mindful Money suggests Treasuries, Gilts and Bund markets are pricing in interest rate rises.
2) The BRICs – that is to say Brazil, Russia, India and China are planning a $100bn fund to protect emerging market currencies as Investment Week reports. Ashmore suggests that most emerging markets are more than capable of intervening to avoid a crisis.
3) With Vodafone, we think one of the most interesting aspects is the fact that investors through Sipps do not have to pay US withholding tax whereas those holding their shares in Isas do. One to think about in terms of any other US holdings.
4) Fidelity’s Sanjeev Shah is to step down from managing the flagship Special Situations Fund citing the fact that he can no longer give the 110% the role requires. Colleague Alex Wright steps up to the plate.
5) And the G20 is to say in its communiqué that the world’s economy is recovering but the crisis is not yet overcome as Reuters reports today.