The past week saw increased regulatory focus and a cooling labour market. The Bank of England (“BoE”) launched a "system-wide exploratory exercise" to stress-test private equity and credit markets, which hold 15% of UK corporate debt. The exercise will be run over two rounds, allowing officials to examine the impact of a crisis on the private capital market as well as on the wider financial system. Regulators around the world are concerned about the build-up of risks in the rapidly expanding private credit market after the collapse of the US car parts supplier First Brands and subprime auto lender Tricolor. UK Employment data showed a slowdown, with the BDO Employment Index hitting a 14-year low, and KPMG reporting continued declines in permanent placements and vacancies due to high costs and budget uncertainty. Despite this, persistent wage pressure for skilled labour pushed permanent salary inflation to a five-month-high, offering a slight sign of stabilisation...
Stocks featured:
Antofagasta, Diageo and JD Sports
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