Daire MacFadden

And depending on who comes out tops in that contest for the leadership of the Labour Party.

There could be a swing or a lurch to the left.

That means slightly more spending, more social commitments.

And it's just not clear that the bond market really wants to absorb all that additional borrowing.

So there's a real question there around whether the bond market is going to kind of reimpose discipline on whoever comes into power if Keir Starmer leaves.

And in fact, there was a column in the FT yesterday arguing that you could actually be long on gilts because the bond market generally has a way of imposing discipline and constraints on governments that get a bit too out of hand.

Basically, my view.

I think we're just adjusting to a new world of permanently higher debt levels and aging demographics and...

We will find some way to accommodate this additional supply, whether that's central banks buying it or cutting social spending.

Yeah, very few advanced economies have gotten back to their 2% inflation targets since the energy spike in 2022.

And so the question is whether they even have 2% inflation targets anymore.

Are they able to meet them over the medium term or not?

Rob, you should be going long shampoo because of all of the hair treatments that are coming in these days.

That's a good point, Dara.

Thinking like a trader.

I like that.

I like that.

So...

It was reported this week that Limebike is going to IPO at some point soon.

And they're a blight on the streets of London, I would say, because they encourage a lot of people who are not regular cyclists to get on bicycles with an electric power assist and zigzag in all sorts of directions.