Rolling coverage of the latest economic and financial news, as grocery chain keeps paying Real Living Wage to staff
The City seems unimpressed by Sainsbury’s financial results, even though it reported sales growth ahead of the wider market for seven consecutive quarters.
Sainsbury’s are the top faller on the FTSE 100 share index at the start of trading, down 2.5%.
The global bond selloff showed few signs of letting up over the last 24 hours, with long-term borrowing costs continuing to move higher across the board.
The UK was particularly in the spotlight, as its 10yr gilt yield (+1.5bps) hit another post-2008 high of 4.81%, whilst the 30yr yield (+2.2bps) hit a post-1998 high of 5.37%. But even though the UK might appear the most striking in terms of when yields last traded at these levels, other countries have experienced a similar pattern too.
Continue reading…Rolling coverage of the latest economic and financial news, as grocery chain keeps paying Real Living Wage to staffThe City seems unimpressed by Sainsbury’s financial results, even though it reported sales growth ahead of the wider market for seven consecutive quarters.Sainsbury’s are the top faller on the FTSE 100 share index at the start of trading, down 2.5%.The global bond selloff showed few signs of letting up over the last 24 hours, with long-term borrowing costs continuing to move higher across the board.The UK was particularly in the spotlight, as its 10yr gilt yield (+1.5bps) hit another post-2008 high of 4.81%, whilst the 30yr yield (+2.2bps) hit a post-1998 high of 5.37%. But even though the UK might appear the most striking in terms of when yields last traded at these levels, other countries have experienced a similar pattern too. Continue reading…