Monday saw the release of the UK Financial Stability Report headed by Bank of England Governor Andrew Bailey. The report suggests that financial stability in the UK has returned to their pre-covid levels with risks to global debt. This comes after a key Bank Stress Test which showed that Bank’s capital and liquidity remained strong enough to support UK businesses and households as we recover from COVID.
Elon Musk is continuing to speed up the selling of his Tesla shares, after last month’s twitter poll. Musk raised nearly $1 billion in the latest round, with the majority of this to help cover taxes. The world’s richest entrepreneur has now sold 12 million shares in Tesla as he pledged to sell 10% of his stake of the company to his amassed twitter following.
As worries over Omicron intensifies, declines were seen in Asian markets with the European market expecting a muted start. Key data today consists of producer inflation in the US and RBNZ governor Orr speaking this evening.
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