Wednesday, 25 March 2009

Gilts Slump as Demand at U.K. 40-Year Bond Auction Falls Short March 25 (Bloomberg) -- U.K. government bonds slumped, extending three days of losses, after an auction of 40-year gilts failed to meet the amount of debt the Treasury offered. Investors bid for 1.63 billion pounds ($2.4 billion) of notes, lower than the 1.75 billion pounds of 4.25 percent notes the Treasury had slated to sell, the U.K. Debt Management Office said today.

“Basically it’s the first failed auction,” said John Wraith, head of sterling interest-rate strategy at RBC Capital Markets in London. “They didn’t receive enough to cover it all so the market’s obviously sold off extremely heavily.” U.K. bonds fell, pushing the yield on the 10-year gilt 10 basis points higher to 3.43 percent by 11:02 a.m. in London. The 4.5 percent security due March 2019 slipped 0.82, or 8.2 pounds per 1,000-pound face amount, to 109.04. The yield on the two-year note rose three basis points to 1.29 percent. Yields move inversely to bond prices.

So what does this mean????

Interest rate rises or slashing public expenditure are the only solutions.

Its only one auction, but still significant enough.

Imagine the vicious circle, falling GDP, falling Tax revenue, Increased borrowing, Low demand for Bonds(Gilts), higher rates to stimulate demand for bonds, leading to lower GDP, lower tax, higher Borrowing, Higher on and so on..........

Answers to this on a postcard to Mr A Darling, 11 Downing Street.

Tracker mortgage anyone?

Tuesday, 3 March 2009

addiction children

Addiction and Children

A wee boy not even two years old yet died at Ninewells Hospital in Dundee on 16 March 2008, his name was Brandon Muir.

His injuries included broken ribs and a ruptured intestine.
Medical experts said the injuries had been caused by a “massive blow” to his stomach area.

He had been left in the care of Martin Cunningham (a heroin user )the day before he died while his mother Heather Boyd (also a heroin user) went to the supermarket.

Pathologists who conducted a post-mortem examination on Brandon’s body found cuts and bruises on his head, shoulder blades, abdomen, back, hands and abrasions on the inside of his eye.

Police reports said the injuries dated from the last three weeks of Brandon’s life, the period after Martin cunningham had moved inwith Brandons mum.

Today Martin Cunningham was convicted of culpable homicide after jurors took just one hour and 25 minutes to return their majority verdict.

Brandon’s father, John Muir, said the verdict had brought him no comfort.

He said: “Robert’s been done with culpable homicide, which is five to ten years and if he gets five years, he’ll be out in a year and a bit.

“Brandon’s life was [worth] more than that.”

The night Brandon died he was at a “party” where all the adults were under the influence of either drugs and alcohol or both.

These are the facts! not opinion, not hearsay, not judgement.


Rest in peace little Brandon