Archives of “September 30, 2021” day

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Bank of England gives a one year window to spend old £20 and £50 notes

  
  Analysis

The BoE has said anyone who has the old  £20 and £50 notes has until September 2022 to spend them. After that they’ll not be legal tender.

There are around 9bn GBP in circulation. Being replaced by a new polymer note. This might be a cunning plan from the BoE to boost household spending.
Note to the future …. If you are reading this post after September 2022 you can apparently still deposit old notes into a UK bank account. And the BoE says it’ll continue to exchange withdrawn notes.
The new 50 pound note features absolute legend Alan Turing:
The BoE has said anyone who has the old  £20 and £50 notes has until September 2022 to spend them. After that they'll not be legal tender. 

US Treasury and Yellen comments on G7 global tax agreement – flag an agreement in October

  
  Analysis

Remember all the backslapping and high-fiving when this mob “reached an agreement” on global tax?

And then everyone said it didn’t apply to them though?
Here we are, still negotiating. Headlines below, probably best served with a few grains of salt.
Latest from the US Treasury and Treasury Secretary Yellen

 

  •  Treasury says G7 understanding on taxes will support reaching a final political agreement within the OECD framework in October
  • Yellen reiterated the importance of reshaping global tax rules to ensure that profitable corporations pay their fair share in taxes
  • G7 finance ministers reached common understanding on some important open issues in negotiations on reforming the international tax system

 

NASDAQ index cannot hold gains and closes lower for the fourth consecutive day

  
Analysis, US Market

S&P and Dow industrial average closed higher

The NASDAQ index was up as much as 181.4 points or 0.89% at the session highs, but could not sustain the upside momentum and is closing lower for the fourth consecutive day.  The index is down over 5% for the month and on pace for its worst month since September 2020. The Dow Jones and S&P index did closes higher with the S&P snapping a two day losing streak, but each of the indices are well off their highs and nearer its lows for the day. Both the S&P and Dow industrial average are down over 3.0% on the month.

The final numbers are showing:
  • Dow Jones industrial average, +90.73 points or 0.26% at 34390.71
  • S&P index +6.81 points or 0.16% at 4359.45
  • NASDAQ index down 34.23 points or -0.24% at 14512.45
  • the Russell 2000 fell -4.47 points or -0.20% at 2225.31
Looking at the different sectors of the S&P, the winners included:
  • utilities, +1.29%
  • consumer staples, +0.87%
  • healthcare +0.77%
  • real estate +0.67%
on the losing side:
  • materials -0.3%
  • communication services -0.21%
  • technology -0.1%
  • energy -0.01%
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