From the BBC:
The Bank of England has warned that uncertainty about the EU referendum is the "largest immediate risk" facing global financial markets.
The Bank said there were "risks of adverse spill-overs to the global economy" from the 23 June vote. It was "increasingly likely" that sterling would fall further - perhaps sharply - in the event of a leave vote, the Bank added.
They clearly think we are totally gullible.
Christmas Day: readings for Year C
9 hours ago
4 comments:
But the triple whammy of fear about BTL taxes, plummeting sterling and post brexit mortgage default means you can buy good quality mortgage companies at a discount to face value and 10%+ gross yields now.
Paragon Group of Companies, Virgin Money, fill yer boots I say, load up on the cheap now ready for the next stage of the credit land price cycle.
SL, good point.
So the BoE knows what are the “largest immediate risks facing global financial markets”? Absolutely hilarious.
That’s the BoE which (along with other central banks) made a complete pig’s ear out of regulating banks prior to 2007, and reduced “global financial markets” to near chaos. Yup: we can rely on the BoE.
Mortgage comapnies(banks) have always offered up to 60% discount on market rate.
I don't understand Robin. I meant they (well Paragon still is and Virgin was when I bought some yesterday) trading at a discount to the book value in their last published accounts. So debt generally (bonds) have risen in price recently, but mortgage and other debt tied up in these companies has fallen below 100p in the £. Hence I bought some.
I know Barclays, Lloyds and RBS are too, but they still have a nasty legacy attached to them.
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