Monthly Archives: July 2020
Legal & General UCITS ETF Public Limited Company Robo Global Rob&Auto Go UCITS ETF
Negative Interest Rates: Mechanisms
FTSE100: The Covid 19 Effect
Britain’s Most Valuable Company: Astra Zeneca
Today, Astra Zeneca PLC is the most valuable company listed on the LondonStockExchange.
A world-leading pharmaceutical group, AstraZeneca was created in 1999 via the merger of Sweden’s Astra and the UK’s Zeneca, which had been demerged from chemicals group ICI in 1993.
Its low this year was £62.21 a share and is now at nearly £90 a share.
The Ascent of The Allianz Technology Trust PLC
Government Funding: National Savings and Investments.
HM Government has asked National Savings & Investments to “get more cash” into The Treasury.
HM Treasury has today confirmed that NS&I’s Net Financing target for 2020-21 has been revised from £6 billion (+/- £3 billion) to £35 billion (+/- £5 billion) to reflect government finance requirements arising from Covid-19.
NS&I’s Annual Report & Accounts 2019-20, published on 23 June 2020, stated that NS&I’s £6 billion Net Financing target announced in the March 2020 Budget would be subject to in-year revision. Today’s new target may be subject to further revision during the year, depending on the government finance requirement.
the jump is the £6bn to £35bn. HM Treasury looking at all avenues to raise revenue / income into the government to fund the massive budget deficit.
Dr Doom: Nouriel Roubini
HM Government Borrowing: June 2020
Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties.
Another deficit month, thus to bridge the gap, needs to borrow on the bond market In June 2020 , the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure and deal with the economic damage from Covid19. The term for this is The PSNCR: The Public Sector Net Cash Requirement. There were “only” 16 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-
25-Jun-2020 0 1/8% Index-linked Treasury Gilt 2029 3 months £1,229.5760
24-Jun-2020 1 5/8% Treasury Gilt 2054 £1,768.2500 Million
24-Jun-2020 2¾% Treasury Gilt 2024 £3,250.0000 Million
23-Jun-2020 0 1/8% Treasury Gilt 2026 £3,250.0000 Million
23-Jun-2020 0 3/8% Treasury Gilt 2030 £3,628.7500 Million
17-Jun-2020 0 1/8% Treasury Gilt 2023 £4,260.7490 Million
17-Jun-2020 1¼ % Treasury Gilt 2041 £2,812.5000 Million
16-Jun-2020 1½% Treasury Gilt 2026 £3,716.2500 Million
16-Jun-2020 4¾% Treasury Gilt 2030 £2,000.0000 Million
11-Jun-2020 0 1/8% Treasury Gilt 2028 £4,036.6240 Million
11-Jun-2020 1% Treasury Gilt 2024 £3,250.0000 Million
10-Jun-2020 0 1/8% Index-linked Treasury Gilt 2036 £900.0000 Million
03-Jun-2020 1 5/8% Treasury Gilt 2054 £1,500.0000 Million
03-Jun-2020 2¼% Treasury Gilt 2023 £3,941.2490 Million
02-Jun-2020 0 1/8% Treasury Gilt 2026 £3,328.7500 Million
02-Jun-2020 0 3/8% Treasury Gilt 2030 £3,749.9990 Million
When you add the cash raised:-
1,229.58 Million + 1,768.25 Million + 3,250.00 Million + 3,250.00 Million + 3,628.75 Million + 4,260.75 Million + 2,812.50 Million + 3,716.25 Million + 2,000.00 Million + 4,036.62 Million + 3,250.00 Million + 900.00 Million + 1,500.00 Million + 3,941.25 Million + 3,328.75 Million + 3,750.00 = £46,622.697 Million
£46,622.697 Million = £46.622 Billion
On another way of looking at it, is in the 30 days in June 2020, HM Government borrowed:- £1,554.0899 Million each day for the 30 days.
We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bond mature from 2024 through to 2057. All long term borrowings, we are mortgaging our futures, but at least “We Are In It Together….”
Ray Dalio on the Economy, Pandemic, China’s Rise
The Investment in Ramanujan: The Meaning of Ramanujan and His Lost Notebook
The Renewables Infrastructure Group.
On Tuesday 30th June, The Renewables Infrastructure Group paid its shareholders its June 2020 dividend.
1.69p a share
The total issued share capital with voting rights is 1,637,453,267.
https://www.londonstockexchange.com/news-article/TRIG/total-voting-rights/14485497
Thus:
1,637,453,267 x £0.0169 = 27,672,960.2123
That is £27.672million
http://www.shareshop.hsbc.co.uk/shareshop/security.cgi?csi=11834937&action=
5.3% yield
HICL Infrastructure
On Tuesday 30th June, HICL Infrastructure paid to its shareholders its June 2020 dividend
£0.0207 a share.
he total issued share capital with voting rights is 1,863,642,769
https://otp.tools.investis.com/clients/uk/hicl/rns/regulatory-story.aspx?cid=1239&newsid=1362209
Thus:
1,863,642,769 x £0.0207 = 38,577,405.3183
That is £38.577 Million
http://www.shareshop.hsbc.co.uk/shareshop/security.cgi?csi=185903&action=
4.7% yield
The Investment in 0.577
$7 Trillion Dollar Balance Sheet : The US Federal Reserve.
The US Central Bank is the US Federal Reserve https://www.federalreserve.gov/
Its balance sheet is huge:
https://www.federalreserve.gov/releases/h41/current/h41.htm
Total assets: $7,168,936 MILLION
That is $7.1 TRILLION Dollar$