it was a finally balanced decision at the bank of England but Andrew Bailey and his cohorts deliver a 25 basis cut for the first time in four years the reaction function is magical and obvious the P tanks by 3/10 of 1% but it is a short end of the curve d by near T basis points this was a finally balanced decision this was a hawkish cut if there ever was one this week you had a hawkish hike from the bank of Japan hawkish cut from the bank of England and procrastination and prevarication from the Federal Reserve but the market heard rate cuts are coming couple of other things driving the whole Tech sector mattera look at this up nearly 9% believe me come with me that’s the message from Mark zukerberg he’s spending more money on CeX but this time the market believes he will deliver with his AI narrative Nvidia is just off its head up 13% yesterday $329 billion in value added Amazon and Intel tonight