BRENT CRUDE $73.19, GOLD $2684.10, UK 2-YEAR GILT YIELD 3.97%, 7-YEAR GILT YIELD 3.88%, 10-YEAR GILT YIELD 3.99%, 10-YEAR US TREASURY YIELD 3.78%, BITCOIN $63,333.50 CABLE $1.3337 at 5.53am

The real question here is how can an "environmental consultant" afford not just a judicial review, but a subsequent appeal? The answer is: he is undoubtedly a puppet for a much wealthier interest -- a green philanthropist who is financing lawfare campaigns, to circumvent

What exactly does he think economic growth is? It is precisely the increase in goods and services consumed. Ie it is exactly ‘more money in people’s pockets’.

Motorway filling station economics. We are open, but demand you pay way more than all your alternatives are charging. -> Empty forecourts.

We know that the Fed has been intentionally offsetting the impact of QT by running down the Reverse Repo. That has kept Bank Reserves in the 'Abundant' zone. Might the Fed be propping up the stock-market ahead of the election by chance? H/T Liz Young Thomas via (((The Daily Shot)))

The Bottom Line on R4 on Smart Energy System. All 3 speakers salaries & livelihoods depend on one view. Why not ask one person with a different view?

Community Notes are simply the best. Starmer caught with his pants on fire again. OpenAI is considering 5-7 5GW datacentres, enough to consume all UK electricity generation. We have the most expensive industrial electricity in the world so unlikely win any of this investment.

The convective hot towers are beginning to flare up and close off the eyewall of Helene. Thus far, it hasn't intensified rapidly as expected; it remains at Cat-2 with a Vₘₐₓ of 105 mph and MSLP of 960 mb. But, that may soon change in the final 6-8-hours before landfall.

UK chancellor ready to water down planned tax raid on wealthy foreigners via Financial Times Total shambles…..many will surely have made their decisions. on.ft.com/3N1vaVC

If heat pumps need their own week to promote them, then you just know that they cannot compete in a free market.

Mark Dampier Financial Times Just on a webinar now with a tax lawyer discussing discussing the exodus of non doms which is already well underway. Reeves and Labour are economic vandals

BRENT CRUDE $71.42, GOLD $2696.10, UK 2-YEAR GILT YIELD 3.97%, 7-YEAR GILT YIELD 3.90%, 10-YEAR GILT YIELD 4.01%, 10-YEAR US TREASURY YIELD 3.79%, BITCOIN $65,375.90 CABLE $1.3391 at 5.10am

ECONOMIC DATA posted today – Germany Unemployment, EU Business Climate Indicator, Consumer Confidence, CPI, Economic Confidence, Industrial Confidence, Services Sentiment, US Personal Incomes, US Core PCE

Wall Street responded positively to upbeat US economic data (lower jobless claims 2nd Q GDP +3%) & Chinese stimulus package. DAX/CAC meteoric rally (+1.6% & 2.3%). FTSE inertia set in (strong £). Oil $71. Opening calls: FTSE +6 @ 8290 DAX +30 @ 19268 CAC +12 @ 7756 DJIA +42185

For all the cries to "get out of cash," investors are doing the opposite, still piling into money-market funds. Cash-like funds reported $121 billion of flows in the past week, the biggest flow since March 2023, bringing total assets to $6.42 trillion. bloomberg.com/news/articles/…

The latest data out of Europe shows that not only is growth underwhelming expectations, but inflation is fading faster than expected. Traders are now pricing in an 80% chance of another ECB rate cut on Oct. bloomberg.com/news/articles/…

Did you know that electricity costs 4X more than gas and heat pumps are much more expensive to install than a gas boiler, so most people will be worse off with a heat pump?

Britain has no choice but to reembrace nuclear power, fossil fuels, and domestic gas storage. Anything less will condemn the country to terminal decline.

I thought you would be interested in this story from The Times: What the Horizon inquiry could learn from the Challenger disaster. Great column, a really good read ⁦Harry Wallop⁩ thetimes.com/article/717392…

The cheerleaders are telling us that the economy is strong and in for a “no landing” and yet the Umich data show that home and auto buying plans are lower today than they were at the very worst points in the last six recessions back to 1980. Go figure.