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Favour over the past month. Weve seen sterling rise that will help temper the Price Pressures from imports. Weve also seen other pressures in the markets where theyve been raising some questions about the Bank Of Englands credibility, as in Mortgage Rates going up without decisions being made that has all calmed down, too. And the public s expectations of where inflation is going, which were really very high, have now begun to temper. So thats also going in the banks favour. But a crucial issue is that they have raised rates by 5 the impact of that has really taken some time to filter through into the economy, there is sort of turning the type of rate rises on. Turning the tap. We are beginning to see the impact of that now weve seen in the Housing Market, weve se ....
Unsustainable tra ectory. it s also important unsustainable trajectory. it s also important to point out the us lost its aaa crown back in 2011, and at the time there was a huge reaction of concern about what that meant whereas now, having been there before, it doesn t feel like such a big deal in terms of market reaction, you think? exactly, fitch didn t reaction, you think? exactly, fitch didn t tell reaction, you think? exactly, fitch didn t tell us reaction, you think? exactly, fitch didn t tell us anything l fitch didn t tell us anything we didn t already know. certainly we know about this position on us debt. janet yellen has a point, it doesn t change anything in terms of demand, they are still. but chris, uk demand, they are still. but chris, uk gdp demand, they are still. but chris, uk gdp data - demand, they are still. but chris, uk gdp data ratio is around 85%. the us is at 126% and it s likely to go up, that s what fitch is pointing out? , , . out? yes, they a ....
Session, markets across asia were all a lot lower. today thatis were all a lot lower. today that is continuing. if we look at wall street, because michelle mentioned the fact there was a sell off on wall street, look at the tech waited nasdaq, down 2%. the snp 5000 the nasdaq, down 2%. the snp 5000 the snp 500 nasdaq, down 2%. the snp 5000 the snp 500 down 1.38%. let s speak to chris beauchamp, chief market analyst at ig. as far as the share markets are concerned, do you think this was an excuse to take some profits? because certainly for japan on wall street, they ve had a good run lately. exactly that, ithink had a good run lately. exactly that, i think we had a good run lately. exactly that, i think we are had a good run lately. exactly that, i think we are now - had a good run lately. exactly that, i think we are now intol that, i think we are now into august, trading moves can be exaggerated. if you look at nasdaq with tech stocks, that was up 40% on the year. this do ....