One of the most exciting innovations of recent times has been the development of social-impact bonds. These are loans raised in the markets or from private investors where the money is invested to finance and improve the social outcomes delivered by publicly funded services and the return on the bonds is linked to the success of the venture.

It is still difficult to see interest rates in the UK rising before the next general election.

The Analyst

At the time of writing, the UK stock market, as measured by the FTSE All Share Index, has fallen around  7 per cent from the high it reached just a few weeks ago.

The Analyst

Forecasters have called the top of the bond market on numerous occasions over the past two years, but gilts have resolutely not behaved in the way in which many bond fund managers expected. Today, 10-year gilts are yielding  1.9 per cent. Yields may have touched a low of 1.4 per cent last summer, but in reality they have settled in a tight trading range.

Chancellor George Osborne’s accent in Tuesday’s speech about welfare was roundly derided for its mockney burr.

If interest rates stay low the Treasury could be in line for a £50bn windfall

The Analyst

The Swiss bank UBS lost Sfr1.9bn (£1.3bn) in the final quarter of 2012 after it was hit with £994m of fines for rigging Libor.

The Analyst

Plus: Goldman Sachs’ sneaky move to beat the taxman, Raise your glasses in a toast to Greene King

The Analyst