Legal Spotlight

Sliding down the capital structure

I am writing a day after the Bank of England lowered interest rates. Counterintuitively, shortly after the announcement the interbank rates increased, the pound strengthened and share prices fell. These are not the easiest times to make solid predictions and trading decisions and it is my observation that many of those operating in the bond and loan markets have struggled to make sense of the recent conditions. It seems that many of us are having to cope with

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