THE STRONG bond run or "bubble" of the last three years is passed its best, but the market might not...
THE STRONG bond run or "bubble" of the last three years is passed its best, but the market might not be ready to face the consequences, a report in this morning's Financial Times newspaper suggests.
Investors turned their backs on British and German government bond market auctions yesterday amid concerns that deteriorating public finances and renewed interest in equities is likely to tail off bond sales.
That said, there seem to be suggestions that a move out of bonds now may be too early for the equities market to cope with, because it will dampen the potential for a stockmarket revival.
REQUIREMENT to buy an annuity at retirement could still come to an end, based on activity in the House of Commons yesterday, as a private members bill to end compulsion and introduce equalised annuity rates for men and women won by 70% of the vote, says the Daily Telegraph.
Known as the Retirement Income Reform Bill, the private bill defeated the Government's attempt to prevent such changes at the committee stage, so will progress to the next stage on July 11th.
Edward Garnier, Conservative MP for Harborough, tabled the Bill to change rules requiring 75% of money purchase assets on buying an annuity by the age of 75. It could also mean AVCs no longer have to be spent solely on buying an annuity.
ISIS ASSET MANAGEMENT has emerged as the latest prospective bidder for Edinburgh Fund Managers, continues the Telegraph.
EFM is said to have received several bids now but is also in talks with Isis after the firm - which changed its name from Friends, Ivory & Sime - paid £240m to buy Royal & SunAlliance's fund management arm.
New Star and John Duffield are also rumoured to be looking at buying the struggling Scottish firm.
GORDON BROWN has ordered a full review and analysis of all Inland Revenue and HM Customs & Excise departments after the serious of blunders that have hit the government's tax reform implementation and payment systems, says the Times.
The review, to be chaired by Gus O'Donnell, Permanent Secretary to the Treasury, may lead to a complete overhaul of the tax-collection agencies and a merger of the two divisions.
Completion of the review could take some again, however, as the first findings are not expected to be presented until November.
MERRILL LYNCH won yet another legal victory yesterday when a US federal judge dismissed claims that it had misrepresented the relationship between the investment banking division and broker dealers, over the global technology fund.
It had been suggested that Merrill's prospectus for the global tech fund contained misleading research as well as investing in stocks which were over-inflated because its own research was trying to boost investment banking business.
Putting the tech into protection
Square Mile’s series of informal interviews
Fallout from Haywood suspension
Launching later in 2019
£80bn funds under calculation