{"id":131436,"date":"2025-03-13T20:24:21","date_gmt":"2025-03-13T20:24:21","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/investing\/irregular-roundup-3rd-september-2024\/"},"modified":"2025-03-13T20:24:21","modified_gmt":"2025-03-13T20:24:21","slug":"irregular-roundup-3rd-september-2024","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=131436","title":{"rendered":"Irregular Roundup, 3rd September 2024"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>We begin today\u2019s Irregular Roundup with market turmoil.<\/p>\n<h6><span id=\"Market_turmoil\">Market turmoil<\/span><\/h6>\n<p>We finally got our rate cut here in the UK but after a few hours of optimism, weak numbers in the US triggered the biggest sell-off for a while.<\/p>\n<ul>\n<li>The <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemBody&gt;Debt instrument issued by a government or company to raise money; pays regular interest with the original capital returned at maturity.&lt;\/div&gt;\" href=\"https:\/\/the7circles.uk\/glossary\/bond\/\" data-gt-translate-attributes=\"[{\" attribute=\"\" tabindex=\"0\" role=\"link\">bond<\/a> market is now signalling a recession in the US, and it will be interesting to see if the fledgling recovery in the UK can survive that (along with the headwinds from a looming Labour tax grab).<\/li>\n<\/ul>\n<p>The MPC only voted 5 to 4 in favour of the cuts (with Chairman Andrew Bailey voting with the majority) but it\u2019s still a modest surprise that the BoE cut before the Fed.\u00a0The MPC said:<\/p>\n<blockquote>\n<p><span style=\"color: #0000ff;\">It is now appropriate to reduce slightly the degree of policy restrictiveness. The impact from past external shocks has abated and there has been some progress in <\/span><span style=\"color: #0000ff;\">moderating risks of persistence in inflation.<\/span><\/p>\n<\/blockquote>\n<p>But we shouldn\u2019t expect lots more cuts:<\/p>\n<blockquote>\n<p><span style=\"color: #0000ff;\">Monetary policy will need to continue to remain restrictive for sufficiently long until the risks to inflation returning sustainably to the 2% target in the medium term have dissipated further.<\/span><\/p>\n<\/blockquote>\n<hr\/>\n<p>But the optimism from the UK cut and the strong hints from the Fed the day before was short-lived, as US data made markets think the Fed might be too late.<\/p>\n<ul>\n<li>Jobless claims are on a rising trend and their highest since 2021.<\/li>\n<li>The manufacturing supply survey gave its lowest reading since the pandemic (and the lowest outside of a recession for 21 years).<\/li>\n<li>The manufacturing PMI and new orders each slipped into negative territory.<\/li>\n<\/ul>\n<p><a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemBody&gt;Debt instrument issued by a government or company to raise money; pays regular interest with the original capital returned at maturity.&lt;\/div&gt;\" href=\"https:\/\/the7circles.uk\/glossary\/bond\/\" data-gt-translate-attributes=\"[{\" attribute=\"\" tabindex=\"0\" role=\"link\">Bond<\/a> markets quickly priced in four Fed rate cuts before end-2024 (and at the time of writing are predicting six cuts of 0.25%, which since there are only four meetings means that at least two will be cuts of 0.5%).<\/p>\n<p>The next day, US non-farm payrolls came in much lower than expected and stocks sold off some more.<\/p>\n<ul>\n<li>And the acceleration in the unemployment rate triggered the Sahm rule warning of a looming recession.<\/li>\n<\/ul>\n<p>The inverted yield curve and the Conference Board leading indicators have been predicting a recession for close to two years now.<\/p>\n<ul>\n<li>10-year <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemBody&gt;Debt instrument issued by a government or company to raise money; pays regular interest with the original capital returned at maturity.&lt;\/div&gt;\" href=\"https:\/\/the7circles.uk\/glossary\/bond\/\" data-gt-translate-attributes=\"[{\" attribute=\"\" tabindex=\"0\" role=\"link\">bond<\/a> yields fell below 3.8%<\/li>\n<\/ul>\n<p>Over the weekend it was revealed that Warren Buffet had been selling stocks, and in particular, half of his stake in Apple.<\/p>\n<ul>\n<li>On Monday, the Nikkei had its worst fall in decades.<\/li>\n<\/ul>\n<p>A 0.5% cut at the September meeting of the Fed now looks likely, and there could even be an emergency cut before then.<\/p>\n<ul>\n<li>It probably depends on whether the sudden fall has broken anything important, or merely lost investors a lot of money.<\/li>\n<\/ul>\n<h6><span id=\"Tax_options\">Tax options<\/span><\/h6>\n<p><a href=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2022\/10\/Dan-Neidle.jpg\" data-slb-active=\"1\" data-slb-asset=\"597966283\" data-slb-internal=\"0\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-39452\" src=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2022\/10\/Dan-Neidle-257x300.jpg\" alt=\"Dan Neidle\" width=\"257\" height=\"300\" srcset=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2022\/10\/Dan-Neidle-257x300.jpg 257w, https:\/\/the7circles.uk\/wp-content\/uploads\/2022\/10\/Dan-Neidle.jpg 300w\" sizes=\"auto, (max-width: 257px) 100vw, 257px\"\/><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-39452\" src=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2022\/10\/Dan-Neidle-257x300.jpg\" alt=\"Dan Neidle\" width=\"257\" height=\"300\" srcset=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2022\/10\/Dan-Neidle-257x300.jpg 257w, https:\/\/the7circles.uk\/wp-content\/uploads\/2022\/10\/Dan-Neidle.jpg 300w\" data-sizes=\"(max-width: 257px) 100vw, 257px\"\/><\/a><\/p>\n<p>Over on Tax Policy Associates, Dan Neidle looked at <a href=\"https:\/\/taxpolicy.org.uk\/2024\/08\/01\/rachel-reeves-raise-22bn-of-tax\/\" target=\"_blank\" rel=\"nofollow noopener\">how Rachel Reeves might raise \u00a322bn<\/a> of tax in the October <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemBody&gt;A plan of income and expenditure over a period of time, typically a year.&lt;\/div&gt;\" href=\"https:\/\/the7circles.uk\/glossary\/budget\/\" data-gt-translate-attributes=\"[{\" attribute=\"\" tabindex=\"0\" role=\"link\">budget<\/a> to plug the \u201cblack hole\u201d she claims to have discovered.<\/p>\n<ul>\n<li>The UK raises around \u00a31 trn in tax each year, making the \u00a322 bn target appear to be a drop in the ocean.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/08\/UK-tax-system-7-Circles.png\" data-slb-active=\"1\" data-slb-asset=\"1862793610\" data-slb-internal=\"0\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-44064\" src=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/08\/UK-tax-system-7-Circles-300x198.png\" alt=\"UK tax system (7 Circles)\" width=\"300\" height=\"198\" srcset=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/08\/UK-tax-system-7-Circles-300x198.png 300w, https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/08\/UK-tax-system-7-Circles.png 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\"\/><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-44064\" src=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/08\/UK-tax-system-7-Circles-300x198.png\" alt=\"UK tax system (7 Circles)\" width=\"300\" height=\"198\" srcset=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/08\/UK-tax-system-7-Circles-300x198.png 300w, https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/08\/UK-tax-system-7-Circles.png 1024w\" data-sizes=\"(max-width: 300px) 100vw, 300px\"\/><\/a><\/p>\n<p>But Labour has committed to protecting <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemBody&gt;A tax on income within a tax year (6th April to 5th April).&lt;\/div&gt;\" href=\"https:\/\/the7circles.uk\/glossary\/income-tax\/\" data-gt-translate-attributes=\"[{\" attribute=\"\" tabindex=\"0\" role=\"link\">income tax<\/a>, national insurance, VAT and corporation tax and also to reforming business rates.<\/p>\n<ul>\n<li>That leaves about \u00a3150 bn of taxes that they could target.<\/li>\n<\/ul>\n<p>Now we need an increase of around 15% on that base.<\/p>\n<p><a href=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/08\/Labour-target-taxes-7-Circles.png\" data-slb-active=\"1\" data-slb-asset=\"1746207041\" data-slb-internal=\"0\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-44065\" src=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/08\/Labour-target-taxes-7-Circles-300x198.png\" alt=\"Labour target taxes (7 Circles)\" width=\"300\" height=\"198\" srcset=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/08\/Labour-target-taxes-7-Circles-300x198.png 300w, https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/08\/Labour-target-taxes-7-Circles.png 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\"\/><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-44065\" src=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/08\/Labour-target-taxes-7-Circles-300x198.png\" alt=\"Labour target taxes (7 Circles)\" width=\"300\" height=\"198\" srcset=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/08\/Labour-target-taxes-7-Circles-300x198.png 300w, https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/08\/Labour-target-taxes-7-Circles.png 1024w\" data-sizes=\"(max-width: 300px) 100vw, 300px\"\/><\/a><\/p>\n<p>The largest targets are council tax and fuel duty, neither of which is easy to increase politically (though a field duty rise could happen).<\/p>\n<ul>\n<li>Dan would like to see a land tax, but memories of the poll tax make this kind of radical reform unlikely.<\/li>\n<\/ul>\n<p>My problem with land tax is that it would be difficult to implement without creating massive losers overnight, which is not the way the tax system should operate.<\/p>\n<ul>\n<li>Dan also points out that Labour has no mandate for this since they didn\u2019t mention it in their manifesto.<\/li>\n<\/ul>\n<p>Here are the changes that Dan thinks are likely:<\/p>\n<ol>\n<li>Flat rate pension tax relief, probably at 30%.\n<ul>\n<li>Dan notes that 30% relief upfront and 40% tax in retirement would be a hard sell for higher-rate taxpayers.<\/li>\n<\/ul>\n<\/li>\n<li>Getting rid of the AIM share IHT exemption and\u00a0 capping the size of family firms that are exempt from IHT\n<ul>\n<li>This would be bad news for the better AIM stocks.<\/li>\n<\/ul>\n<\/li>\n<li>Making pensions liable to IHT for those who die before 75.<\/li>\n<li>Increasing <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemBody&gt;Capital Gains Tax (CGT) is a tax on the gain or profit you make when you dispose of an asset such as shares or property. There is an annual allowance to shelter the first slice of gains.&lt;\/div&gt;\" href=\"https:\/\/the7circles.uk\/glossary\/cgt\/\" data-gt-translate-attributes=\"[{\" attribute=\"\" tabindex=\"0\" role=\"link\">CGT<\/a> a little.\n<ul>\n<li>Equalisation with <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemBody&gt;A tax on income within a tax year (6th April to 5th April).&lt;\/div&gt;\" href=\"https:\/\/the7circles.uk\/glossary\/income-tax\/\" data-gt-translate-attributes=\"[{\" attribute=\"\" tabindex=\"0\" role=\"link\">income tax<\/a> rates would probably reduce the tax take, and would probably mean that indexation would need to be reintroduced.<\/li>\n<\/ul>\n<\/li>\n<li>Fix enveloped property loopholes (add stamp duty and increase the annual tax)<\/li>\n<li>Increase the trust tax from 6% every 10 years to 9%.<\/li>\n<li>Increase fuel duty and road tax.<\/li>\n<li>Abolish entrepreneurs\u2019 relief (now called business <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemBody&gt;Anything that has a \u00a0monetary value (e.g. property, investments, cash).&lt;\/div&gt;\" href=\"https:\/\/the7circles.uk\/glossary\/asset\/\" data-gt-translate-attributes=\"[{\" attribute=\"\" tabindex=\"0\" role=\"link\">asset<\/a> disposal relief).<\/li>\n<li>Add a 0.5% property tax to all property over \u00a32M.<\/li>\n<\/ol>\n<p>And here are some that he thinks will not happen:<\/p>\n<ul>\n<li>End the pension tax-free lump sum<\/li>\n<li>Tax gambling winnings\n<ul>\n<li>But this would mean allowing tax relief on gambling losses (which would introduce scope for avoidance and evasion)<\/li>\n<li>It\u2019s also regressive (hits the poor the hardest).<\/li>\n<\/ul>\n<\/li>\n<li>Cap tax relief on ISAs at say a \u00a350K pot\n<ul>\n<li>80% of ISAs are below \u00a320K, but (1) many people will have more than one and (2) there\u2019s already an annual contributions cap (as with the dreaded pensions LTA)<\/li>\n<\/ul>\n<\/li>\n<li>Reduce the \u00a390K pa threshold for VAT registration (collection)<\/li>\n<li>Raise the top rate of <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemBody&gt;A tax on income within a tax year (6th April to 5th April).&lt;\/div&gt;\" href=\"https:\/\/the7circles.uk\/glossary\/income-tax\/\" data-gt-translate-attributes=\"[{\" attribute=\"\" tabindex=\"0\" role=\"link\">income tax<\/a> to 50%<\/li>\n<li>Wealth tax on those with more than \u00a310M of assets\n<ul>\n<li>Most wealth taxes fail, and there\u2019s no mandate for a one-off tax<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>I think Dan\u2019s likely list is not a bad shot at what might happen in October.<\/p>\n<ul>\n<li>The only one I would hate is the extra property tax \u2013 I have a thing about recurring taxes where you get no services in return.<\/li>\n<\/ul>\n<p>Any of the items on the unlikely list would be problematic, but I wouldn\u2019t rule them out.<\/p>\n<h6><span id=\"HNW_pension_pots\">HNW pension pots<\/span><\/h6>\n<p><a href=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/05\/Alina-Khan.jpg\" data-slb-active=\"1\" data-slb-asset=\"1043649231\" data-slb-internal=\"0\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-43660\" src=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/05\/Alina-Khan-257x300.jpg\" alt=\"Alina Khan\" width=\"257\" height=\"300\" srcset=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/05\/Alina-Khan-257x300.jpg 257w, https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/05\/Alina-Khan.jpg 300w\" sizes=\"auto, (max-width: 257px) 100vw, 257px\"\/><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-43660\" src=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/05\/Alina-Khan-257x300.jpg\" alt=\"Alina Khan\" width=\"257\" height=\"300\" srcset=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/05\/Alina-Khan-257x300.jpg 257w, https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/05\/Alina-Khan.jpg 300w\" data-sizes=\"(max-width: 257px) 100vw, 257px\"\/><\/a><\/p>\n<p>In FT Adviser, Alina Khan reported that 96% of <a href=\"https:\/\/www.ftadviser.com\/pensions\/2024\/08\/02\/96-of-hnws-significantly-underestimate-how-much-is-needed-for-a-comfortable-retirement\/?xnpe_tifc=OFQsOFbdOfx8hfh.hFbDxjpsafeWaeiWhFWARfAsnyQ6hIE.RMP.akUDt9UgrFbl4FYl4.H7Of4_OIbpxFHT&amp;utm_source=exponea&amp;utm_campaign=FTA%20-%20Morning%20Bulletin%20-%20Newsletter%20-%2002.08.24&amp;utm_medium=email\" target=\"_blank\" rel=\"nofollow noopener\">HNWs underestimate how much is needed for a comfortable retirement<\/a>.<\/p>\n<ul>\n<li>The 2,000 participants in the latest Saltus Wealth index average \u00a3536K as a retirement target.<\/li>\n<li>Two-thirds thought that somewhere between \u00a3200K and \u00a3800K would be enough.<\/li>\n<\/ul>\n<p>Saltus notes that \u00a3536K would only provide \u00a321.4K pa of income (using the 4% rule).<\/p>\n<ul>\n<li>Over 55s were targeting \u00a3662K (\u00a326.5K pa).<\/li>\n<\/ul>\n<p>Saltus\u2019 target was a \u00a31M pot for \u00a340K pa of income (the PLSA says \u00a31.1M would be needed to produce the \u00a342K needed for a \u201ccomfortable\u201d retirement).<\/p>\n<ul>\n<li>Only 4% of respondents thought that this much would be needed.<\/li>\n<\/ul>\n<p>Their actual savings were \u00a3484K (\u00a319K pa) and \u00a3546K for those over 55 (\u00a322K pa).<\/p>\n<ul>\n<li>On the plus side, average contributions were just below \u00a33K a month (though 27% of respondents were cutting back on these).<\/li>\n<\/ul>\n<p>Labour means-testing notwithstanding, we can factor in the state pension to bring these targets down a bit.<\/p>\n<ul>\n<li>But a pot of \u00a3800K is probably still in the right ballpark.<\/li>\n<\/ul>\n<h6><span id=\"Generation_gap\">Generation gap<\/span><\/h6>\n<p>A second article from Alina looked at Ageon\u2019s research into the policies people want from the new Labour government.<\/p>\n<blockquote>\n<p><span style=\"color: #0000ff;\">For those aged over 60, 45 per cent saw long term clarity on the state pension and the triple lock as a priority compared to 26 per cent of those in their 50s and only 21 per cent of under-50s.<\/span><\/p>\n<p><span style=\"color: #0000ff;\">The top priority for the under-50s was \u2018new initiatives to help me \/ younger generations get on the property ladder\u2019 (29 per cent). However, only 14 per cent of the over 60s chose this option as a priority while 20 per cent of those in their 50s chose it.<\/span><\/p>\n<\/blockquote>\n<p>It\u2019s hard to see this gap closing.<\/p>\n<h6><span id=\"Dormant_assets\">Dormant assets<\/span><\/h6>\n<p>Around \u00a3880M of \u201cdormant\u201d investment assets are to be given to charity after the scope of the dormant assets regime was expanded.<\/p>\n<ul>\n<li>Following the expansion in 2002 which added some pensions and insurance money, now client accounts will be included.<\/li>\n<\/ul>\n<p>The scheme was set up in 2011 and has given away around \u00a3750M of cash from bank and building society accounts.<\/p>\n<ul>\n<li>One of my old bank accounts was closed this month (it only had \u00a32 in it).<\/li>\n<\/ul>\n<p>The scheme is supposed to use accounts where the customer can\u2019t be contacted, but Halifax wrote to give me a month\u2019s notice to take the money or lose it.<\/p>\n<ul>\n<li>And of course, to move it I would need to reapply for new credentials to access the account.<\/li>\n<\/ul>\n<p>That was too much bother, so now it belongs to the National Lottery Community Fund.<\/p>\n<p>The FCA said:<\/p>\n<blockquote>\n<p><span style=\"color: #0000ff;\">Our proposals should result in an increase of funds being released to support good causes from investment assets and client money assets that are transferred to the dormant <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemBody&gt;Anything that has a \u00a0monetary value (e.g. property, investments, cash).&lt;\/div&gt;\" href=\"https:\/\/the7circles.uk\/glossary\/asset\/\" data-gt-translate-attributes=\"[{\" attribute=\"\" tabindex=\"0\" role=\"link\">asset<\/a> scheme [DAS]. At the same time, our proposals should enable customers who have a right to reclaim dormant assets to do so without delay or difficulty, thereby securing an appropriate degree of protection for consumers.<\/span><\/p>\n<\/blockquote>\n<p>I\u2019m not sure what happens if you try to get your money back after it\u2019s gone to the charities, so check your records now.<\/p>\n<h6><span id=\"Labour_watch\">Labour watch<\/span><\/h6>\n<p>This week\u2019s new government news was the withdrawal of \u00a31.3 bn of funding for tech and AI projects that had been promised by the Tories.<\/p>\n<ul>\n<li>Most of the money was for an \u201cexascale supercomputer\u201d at Edinburgh University.<\/li>\n<\/ul>\n<p>There are only a few of these in the world, and the new Edinburgh machine would have been fifty times more powerful than anything else in the UK.<\/p>\n<p>The university website says:<\/p>\n<blockquote>\n<p><span style=\"color: #0000ff;\">Exascale will help researchers model all aspects of the world, test scientific theories and improve products and services in areas such as artificialintelligence, drug discovery, climate change, astrophysics and advanced engineering.<\/span><\/p>\n<\/blockquote>\n<h6><span id=\"Quick_Links\">Quick Links<\/span><\/h6>\n<p>I have two for you this week:<\/p>\n<ol>\n<li>Discipline funds said that <a href=\"https:\/\/www.reddit.com\/r\/UKFinanceOver30\/comments\/1f4vr5f\/yes_you_can_eat_risk_adjusted_returns\/\" target=\"_blank\" rel=\"nofollow noopener\">Yes, You CAN Eat Risk-Adjusted Returns<\/a> and<\/li>\n<li>Alpha Architect looked at <a href=\"https:\/\/www.reddit.com\/r\/UKFinanceOver30\/comments\/1f5idrg\/the_afterfee_performance_of_private_debt\/\" target=\"_blank\" rel=\"nofollow noopener\">The After-Fee Performance of Private Debt<\/a><\/li>\n<\/ol>\n<p>Until next time.<\/p>\n<div id=\"author-bio-box\" style=\"background: #f8f8f8; border-top: 2px solid #cccccc; border-bottom: 2px solid #cccccc; color: #4609ff\">\n<h3><a style=\"color: #555555;\" href=\"https:\/\/the7circles.uk\/author\/mikerawson\/\" title=\"All posts by Mike Rawson\" rel=\"author\">Mike Rawson<\/a><\/h3>\n<div class=\"bio-gravatar\"><img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/the7circles.uk\/wp-content\/uploads\/2024\/03\/Author-pic-fix-150x150.jpg\" class=\"avatar pp-user-avatar avatar-100 photo \" height=\"100\" width=\"100\"\/><\/div>\n<p><a target=\"_blank\" rel=\"nofollow noopener noreferrer\" href=\"https:\/\/the7circles.uk\/\" class=\"bio-icon bio-icon-website\"\/><a target=\"_blank\" rel=\"nofollow noopener noreferrer\" href=\"https:\/\/www.facebook.com\/7-Circles-425914570895193\/\" class=\"bio-icon bio-icon-facebook\"\/><a target=\"_blank\" rel=\"nofollow noopener noreferrer\" href=\"https:\/\/the7circles.uk\" class=\"bio-icon bio-icon-twitter\"\/><a target=\"_blank\" rel=\"nofollow noopener noreferrer\" href=\"https:\/\/plus.google.com\/+The7circlesUk_DIY_investor\/posts\" class=\"bio-icon bio-icon-googleplus\"\/><a target=\"_blank\" rel=\"nofollow noopener noreferrer\" href=\"https:\/\/www.linkedin.com\/in\/mike-rawson-700897ab\" class=\"bio-icon bio-icon-linkedin\"\/><a target=\"_blank\" rel=\"nofollow noopener noreferrer\" href=\"https:\/\/uk.pinterest.com\/miker0992\/\" class=\"bio-icon bio-icon-pinterest\"\/><\/p>\n<p class=\"bio-description\">Mike is the owner of 7 Circles, and a private investor living in London. &#13;<br \/>\n&#13;<br \/>\nHe has been managing his own money for 40 years, with some success.<\/p>\n<\/div>\n<p>          <!--\/.pagination-->\n        <\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>We begin today\u2019s Irregular Roundup with market turmoil. Market turmoil We finally got our rate cut here in the UK but after a few hours of optimism, weak numbers in the US triggered the biggest sell-off for a while. The bond market is now signalling a recession in the US, and it will be interesting [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":131437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[96],"tags":[5767,10699,4098,4968],"dealstore":[],"offerexpiration":[],"class_list":["post-131436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-3rd","tag-irregular","tag-roundup","tag-september"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Irregular Roundup, 3rd September 2024 - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=131436\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Irregular Roundup, 3rd September 2024 - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"We begin today\u2019s Irregular Roundup with market turmoil. Market turmoil We finally got our rate cut here in the UK but after a few hours of optimism, weak numbers in the US triggered the biggest sell-off for a while. 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