k of England supports equities. Key date: 8 Nov, Bank of England policy meeting 2 UBS Recommendations Tactical

ding to market capitalization. Developments in commodity prices affect earnings estimates. Commodity prices Policy action Loose monetary policy by the Bank of England supports equities. Key date: 8 Nov, Bank of England policy meeting 2 UBS Recommendations Tactical (6 months) e The UK offers an attractive 4% di

and the resulting consensus view that the UK was destined for recession. Although the 20% decline in the trade-weighted sterling and rapid easing by the Bank of England were no doubt pivotal in avoiding that fate, the immediate impact of the Brexit referendum has been far less destructive than feared. But as we begi

Settlements BLS: Bureau of Labor Statistics BOE: Bank of England BOJ: Bank of Japan CAGR: compound annual growth

& Source: Bloomberg Source: Bloomberg The other fixed income trade we continue to like is short 5Y UK real rates. The market continues to discount the Bank of England consistently overshooting its inflation target without a response on monetary policy. Yet Governor Carney and other members of the BOE’s MPC have sai

ment in 2H 2012. Still, economic activity is likely to remain very sluggish despite support from lower oil prices and less rigorous fiscal austerity. The Bank of England may support the UK economy by increasing its amount of bond purchases soon. The probability that the ECB will take further action to support the econ

ream of the tumbling equity market. President Obama’s re-election perhaps also diminishes expectations of a change in course at the Fed. The ECB and the Bank of England stood pat at their policy meetings this week, but the latter delivered a curveball today, announcing that its net coupon income from QE would be tran

to accepting Bailey and Osofsky. Both would need to be corrupted in order for Staley to keep his job. Why is Bailey being considered for top job at the Bank of England when the FCA that he runs has a 98% disapproval rating from the general public. Bailey and the FCA are answerable to the Treasury which is answerab

Accountability & Reflection As the Governor of the Bank of England Mark Carney said in 2015, the “crisis and its af

ly to foreign authorities: The Attorney General for England and Wales; the Attorney General for Northern Ireland; the Financial Conduct Authority; the Bank of England; the Prudential Regulation Authority; the Director of Public Prosecutions and any Crown Prosecu- tor; the Director of Public Prosecutions for Northe

a supporter of the medical use of marijuana. Died Nov. 23 of a heart attack at his home in Coconut Grove, Florida. Robin Leigh-Pemberton, 86. He was Bank of England governor from 1983 to 1993. Died Nov. 24. Matthew Bucksbaum, 87. The co-founder of General Growth Properties Inc., the second-biggest U.S. owner of