Good morning from Paul & Graham!
As expected the USA cut interest rates with a sizeable 0.5% reduction yesterday, which is obviously good for equities (although largely already priced into indices perhaps, as it was widely expected). BBC report here. Where the Fed leads, the Bank of England tends to follow in due course.
"The US central bank has lowered interest rates for the first time in more than four years with a bigger than usual cut.
The Federal Reserve reduced the target for its key lending rate by 0.5 percentage points, to the range of 4.75%-5%."
Lots of bargains around in the UK small caps space after recent weakness, so personally I'm feeling very buoyant about the opportunities all around us in plain sight - so many small caps have sold off as much as 10-20% in recent weeks when there's no fundamental justification for that (tax selling possibly?), so I'm sniffing around for bargains and finding lots of them. I might run a screen on this actually and publish the results.
** Breaking News ** - UK interest rate held at 5.0%
Explanatory notes -
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