Vol 5 Chapter 98: Death everywhere

Bank of England, Robin Leigh Pemberton looked at the Reuters screen with deep worry in his eyes.
　　 Influenced by Schlesinger’s opinions, at the close of the market in the early morning, the pound to mark once fell below the floating lower track of the European exchange rate mechanism.
　　2.7880
　　 This is a very dangerous position. Once the price comparison cannot escape from the floating bottom, it will act like a magnet, attracting speculators from all over the world.
　　 After thinking about it for a moment, Pemberton was about to call Norman Lamont to ask his opinion.
　　 Ling Ling Ling
　　 The phone rang unexpectedly, and when Pemberton answered the call, Lamont’s familiar voice came.
　　 "Robin. It's me, Lamont. Do you think that a rate hike is more beneficial to us."
"I'm just trying to discuss this issue with you. I think we should raise interest rates by 2% first to defend the price. I believe that when the news spreads, we will buy some more pounds to temporarily deviate the price from the current range. If it is true No, it would be better to raise interest rates a second time."
　　 "This is a good way."
　　 "Then I will let the Press Office make an announcement now."
　　 "......"
　　 Hanging up the phone with Schlesinger, Norman Lamont lit up a cigarette he hadn't smoked for a long time, and no longer had the confidence to be in the conference room, let alone the confidence and toughness of facing the media. Between public and private, he did not know whether his behavior was right or wrong. The fight between conscience and reason, the struggle between duties and choices made him fall into deep contemplation.
　　Confidence is more important than gold!
But Lamont really doesn’t have much confidence. As the governor of the Bundesbank, Schlesinger’s remarks have attracted worldwide attention. Now he has stated that the pound needs to be devalued, and he has also met with a big short in international capital. This is simply It is telling speculators all over the world-sell Britain.
　　 If you want to keep the pound on the floating track, raising interest rates is now one of the last trump cards.
　　 The sun shines through the glass outside the window and shines on Lamont's pale hair. The bright light makes him feel very tangled and melancholy.
　　If the pound can be kept in the ECU, then his position as Chancellor of the Exchequer will not be affected. The pound will eventually be forced to withdraw from the European exchange rate mechanism. Then his short position in the Royal Bank of Scotland Group is just a risk hedging transaction.
　　 Finally, Lamont sighed.
　　 Since the Hong Kong Governor has agreed to urge the HKMA to buy the British pound, he has done everything he has to do and has not neglied his duty.
　　 Do everything and listen to the fate.
　　If Hong Kong can take over the selling in the Asian market, the pressure on the Bank of England will be much easier. As long as it takes over the selling in the US and London markets, the pound may be able to weather the crisis.
　　 It's probably because I've done my best in my job, and Lamont's entanglement suddenly relaxes a lot.
　　 At eight in the morning, the Bank of England.
　　 Ending the call, President Robin Leigh Pemberton held a brief meeting and the Central Bank Information Department issued an announcement-raising the benchmark interest rate to 12%.
　　AnadaSquare.
　　 First Capital Investment Company.
　　 "Now the Bank of England has only two cards in hand. It uses interest rate hikes to keep capital outflows, and then buys pounds in the market to try to beat the sellers."
　　 "But if the Bank of England raises interest rates, it will inevitably have a serious impact on the securities market and the government bond market."
　　 "......"
　　 In the central conference room, Shen Jiannan sat in the first place, quietly listening to the analysis and suggestions of supervisors at all levels.
　　 His face is very calm, and there is no abnormality in his eyes, but in his heart, there is an indescribable feeling of excitement.
　　Because, the person who is currently analyzing the cards in England's hands is called Yu Zheng.
　　 Shen Jiannan did not expect that this honest person who used to look dull at school and even blushed when he spoke, has now grown to this point.
　　 What about the students who are staying in China now?
　　 How long has it been before Yu Zheng can analyze from all angles the cards he holds in the hands of the Bank of England, and how far better and more responsive students will grow now.
　　 "Treasury bonds have a fixed interest rate. Even if market interest rates change after issuance, bond interest payments will not be adjusted. If the Bank of England raises interest rates, the demand in the government bond market will inevitably be greatly reduced."
　　 "So, I think we can sell a larger position in public debt at this time."
　　 Is this the top talent of an era?
　　 Seeing Yu Zheng a little nervous and telling his whole thoughts, Shen Jiannan's eyes flashed a trance. The guy who once blushed and said that money could buy things seemed to be yesterday.
　　 "Teacher... Mr. Shen, is there a problem with what I said?"
　　 "No. I agree with your proposal. It is very good, and there is nothing to add."
　　 Be a teacher for one day, and be a teacher for life.
　　 People like Yu Zheng always think so in my heart.
　　 With Shen Jiannan's approval, there was a trace of excitement in his eyes, and he quickly took a deep breath.
　　"The Bank of England is now focusing on exchange rate prices. They cannot take into account the interest rate market and the securities market. Even if they want to, they cannot do it. Unless they stop issuing government bonds or buy government bonds in the market.
　　 But this is a contradictory relationship.
　　For hedging risk considerations, I think it is possible to establish more sell positions in the Treasury bond futures and securities markets. "
　　 crisis!
　　 A huge crisis made William a little bit unable to sit still.
　　 Shen Jiannan and Yu are in the teacher-student relationship, and this guy seems to say too reasonable.
　　 "Then what if the Bank of England does not raise interest rates? Then the positions we have established in the national debt and securities markets may suffer huge losses."
　　"..."
　　 Shen Jiannan and Yu Zhengqi cast an idiotic look at William.
　　 Suddenly, William also realized that his refutation had not passed through his brain.
　　If the Bank of England does not raise interest rates, then the pound can only depreciate, which is a completely dead end.
　　 Britain is dead.
　　 bang bang
　　 Suddenly, there was a knock on the door, and William's secretary came in with a document.
　　 "Boss, the Bank of England Press Office just issued an announcement."
　　 Announcement of the Bank of England to raise interest rates.
　　 Looking at the short paragraph above, Shen Jiannan smiled slightly and snapped his fingers.
　　 "Very good. The game begins!"
　　 The wind helps the fire, and the fire helps the wind.
　　 Although Pemberton has never learned these eight words, some things are essentially the same. When the news of the press office was announced, he personally walked to the bank's market trading department.
　　 "Jimmy. We need to eliminate the negative impact of Schlesinger's speech. You must seize this opportunity. We don't have many cards."
　　As the chief trader of the Bank of England, Jimmy McCaff is well aware of the seriousness of the matter now. The pound gapped so much in the early trading. If this gap cannot be recovered, it would mean a disaster.
　　 However, he is not too worried. The central bank raised the interest rate to 12% in one go. If this fails to eliminate the negative impact of the Germans, then he, the chief trader, should not do it.
　　 "Hey! Guys, let the short-sightedness see how we are."
　　 "......"
　　 "2.7890 buy 10 million"
　　 "2.7915 buy 50 million"
　　 "2.9250 buy 30 million"
　　 "......"
　　 Following Jimmy McCaff's explanation, the traders immediately went to work, holding the phone or typing on the keyboard, and reported one after another on the spot market.
　　 There was such a big buy order in spot foreign exchange, and the futures market immediately responded accordingly. Large purchases and empty flats caused the pound to mark exchange rate to rise rapidly.
　　2.7892 sell flat 2
　　......
　　2.7912 buy 3
　　2.7935 buy 5
　　......
In just five minutes ~EbookFREE.me~ Under the news of the interest rate hike in England and the 1 billion pounds invested by the Bank of England, the trend of the British pound to the mark rose like a rocket, quickly filling out the disk that was affected by the New York market. .
　　 Everything went very smoothly.
　　 Robin Leigh Pemberton breathed a sigh of relief, and quickly picked up the phone and rang Norman Lamont to report the good news.
　　 Regarding this, Lamont didn't know whether he should be happy or depressed, but in the end, he thought the result was pretty good.
　　 "That's it, let those short-sightedness see how good we are."
　　"..."
　　 Suddenly, there was a moment of silence on the phone.
　　 Instinctively, Norman Lamont felt something was wrong.
　　 "Robin, are you still there? What happened?"
　　 Bank of England, Robin Leigh Pemberton stared blankly at the trend of public debt on Reuters in 1992, and his throat squirmed subconsciously several times.
　　 sold 6
　　 sold 6
　　 sold 6
　　......
　　 sold 6
　　......