Market Thinking is subtitled ‘making sense of the Narrative’ because markets are as much about the stories we tell ourselves as any of the so called fundamentals.

With all the excitement of Covid, US Elections, Robinhood traders and now Bond Markets, it’s been easy to forget our friends over at SoftBank, the company that thinks it’s a bank, or a hedge fund or a Venture Capitalist. Or something.

As discussed, the sell off in Bond Markets is also clearing out the trading funds and day traders’ stocks, as they all cut leverage. The short term traders may yet be buyers-on -dips, but we suspect that they have packed their tents and moved off to the Commodity Markets, where Oil and Copper continue to roar.

As the second in our series on Build Britain back Better (the first was on Reform of the House of Lords and improving Regional Government, see here) we look at Reforming the BBC. Specifically the opportunity to use the BBC as a public good for the Good of the Public.

As part one of our Build Britain Back Better series, we look today at the twin issues of Reform of the House of Lords and decentralising Government in the UK, especially England.