Investors get real-time view of UK bond market activity for the first time

58 pointsposted 6 hours ago
by monkeydust
(fca.org.uk)

19 Comments

Pawenniag

32 minutes ago

Whether the data will actually be affordable and usable enough for smaller participants or whether it mainly improves tooling for institutions that already had decent access

greengreengrass

an hour ago

Disappointing that it seems difficult to actually sign up for – "real-time view" hidden behind layers of legalese and licensing, although it's pleasing to see the fees are effectively nothing for individuals or small firms. They're not exactly in the SaaS-era of live demos or trivial sign-ups for immediate access, are they?

Why do we insist on actually useful interfaces into the economy and banking system being hidden behind such bureaucratic complexity? It's like the Open Banking gift that keeps on giving – if it were truly "Open", I'd have an API I could actually use to talk to all of my banks, rather than what feels like a closed shop (certainly for the average retail individual who just wants a feed from their bank).

Pawenniag

29 minutes ago

This is the frustrating pattern with a lot of "open" financial infrastructure

cjs_ac

an hour ago

There’s also a lot of bureaucracy involved in participating in the gilt market directly, rather than using an intermediary.

https://www.dmo.gov.uk/investor-information/retail-investors...

I don’t think the Treasury really wants to deal with amateurs.

pjc50

an hour ago

No, but you can hold them through the standard range of intermediaries and still get the tax advantage.

NS&I offer a range of retail products - https://www.nsandi.com/guaranteed-returns is a good option but does NOT come with the tax exemption.

monkeydust

6 minutes ago

the tax exemptions make it very attractive place to hold cash versus bank accounts - if your a UK citizen google (or AI) - low coupon gilt investing.

pjc50

2 minutes ago

Eh, for most people it's simpler to just use a cash ISA which can provide almost the same rates. Most people don't want or need to carry a huge cash float as opposed to other kinds of investment.

gib444

2 hours ago

Will this help us see how badly Burnham bungs bonds in real time? I jest I jest

AdamN

42 minutes ago

Burnham being PM is already pretty well priced in. When he walked back comments a few weeks ago they corrected and my sense is that the market understands that unless there until actual laws or budgets are promulgated, what is said by Burnham isn't really market moving.

andy_ppp

23 minutes ago

What is he going to do without the bond markets - the UK is in so much debt we basically need to jump however high they tell us to, unless he plans to default which would destroy the global financial system and destroy the UK for decades. The only way I can see out of this is to absolutely frack the crap out of the UK and push for more North Sea oil drilling. But we definitely won't do that so maybe we'll try a bit of fascism instead? I'm very unconvinced taxing rich people is possible (unless it is a global agreement) - most of their money can be moved into tax havens and other jurisdictions where HMRC will struggle to tax them.

monkeydust

13 minutes ago

I think ...or hope...he ends more right than left and manages to do what Starmer failed to do a year ago which is to make major reforms to the Welfare system. Its just not sustainable.

Forgeties79

2 minutes ago

I just feel like no matter what any government does the ultra rich will find a way to get around it. Look at the US gulf south: they are in a race to the bottom when it comes to tax breaks and just giving everything away to businesses/high income earners, yet they are poorer than ever. Texas and Florida are the exceptions here to a certain degree but they are also massive states with lots already going for them. Their neighbors collect a fraction of the taxes they should and get nothing out of it except aggressive resource extraction and cancer.

Also, are wealthy people and businesses really fleeing New York and California in droves like conservative media is portraying?

mark_l_watson

20 minutes ago

Potentially, the raising interest rates because investors don’t trust the long term stability of the UK economic system (more spending on pro-war activities, sluggish economic growth, and higher than expected government borrowing) will crash their financial system.

I hope I don’t sound too selfish but I am a USA citizen, and I would rather worry about my own country’s medium-term financial future.

noir_lord

9 minutes ago

If I was American I’d be worried about the US as well.

You elected a circus.

jalev

10 minutes ago

The UK's financial system made it out battered but bruised in the 70s which were a magnitude worse than what we have right now (double digit unemployment, inflation double digit, interest rates at like 15%, an IMF bailout...). Any talk of the British financial system collapsing is as realistic as the S&P500 dropping 50% in the near future: sure it can happen but the chances are so statistically small you have a better chance of winning the lottery.

alex_duf

4 minutes ago

>I hope I don’t sound too selfish but I am a USA citizen

The rest of the world is getting tired of worrying about the US's economical situation, whether it the dotcom bubble, the sub-primes, or now the potential AI bubble.

So apologies for being blunt here, but yes it does sound selfish to me