The UK survived yesterday’s Pretend and Extend budget. It was a lacklustre soap-opera moment. It won’t cure the UK’s long-term issues or fix Broken Britain. If politicians were serious about repairing the political economy of the UK – it’s time for root and branch surgery on the “frictions” that leave the nation suffering Economic Dementia!

Bond markets reflect facts. Equities are about stories. There is a shift in markets underway – where are rates, inflation and politics taking us? Traders want to see certainty – and that will be reflected in bond rates.

SVB is done and dusted, and its time to ask questions, like: what is the future for banks? What do they do, and how do they do it? Are they at an evolutionary dead end? Probably. And the sheer joy that is the UK budget… stronger coffee please.

UK Chancellor Jeremy Hunt did an excellent job presenting a tough Austerity budget as a route to potential future growth, but Labour has many valid points: words are cheap, actions speak louder, and the Tories were straightjacketed into Austerity by their previous incompetency.

Its UK Budget day and we pretty much know what to expect – but what’s the big plan? Now you’re asking… It’s time for a bold reinvention of the UK, but Sunak is more likely to prove a traditional conservative..