0:00
You've been watching the market this morning, they're up about 5%
0:03
What on earth do you think Donald Trump is up to over in America
0:09
So normally, when you get a big stock market fall, you get a corresponding rise in the bond market
0:15
So, say you're a pension fund investor, you might lose money on behalf of your people on the equities
0:20
but you make a bit of it back on the bonds. And every time we have a stock market crash, that pattern repeats
0:25
This time it was different. This time we saw stock markets going down and bond prices falling as well, which led to real panic amongst the investment community
0:35
And by the way, the same thing happened here. You know, 10 year interest rates yesterday in Britain traded over 5 percent
0:42
And the reason for this is the size of American national debt, the size of British national debt
0:47
And I think, frankly, what happened is some of Donald Trump's biggest supporters said
0:51
you please, please got to take your foot off the brake, otherwise we're going to be in big trouble
0:56
So it was definitely a move caused by the markets, but equally caused by some of those who put a lot of money
1:04
into Donald Trump's campaign. And we've lost our Brexit benefit, haven't we, Nigel
1:10
I mean, everybody's got these 10% tariffs now. Yeah, that's right. However, we're in a much better place to negotiate
1:18
than the European Union is. Donald Trump actually likes us Our trade with America is roughly
1:24
Even as opposed to the European Union who he dislikes intensely And who of course on cars
1:30
Have a massive surplus So we are in a much better position Than our neighbours in Europe
1:35
To negotiate a tariff free package I absolutely believe that that is achievable
1:40
Over the course of the next month or two
