Old Lady of Threadneedle Street

Sterling had already failed to hold on to much of the boost from the Old Lady of Threadneedle Street's hawkish turn, as bond markets see the economic fallout from high rates being deleterious, and it slid further against a rising dollar on Friday.

Now it's time for the Old Lady of Threadneedle Street to enter stage right and do her routine for the cameras.

The Old Lady of Threadneedle Street's cash tourniquet on the gilt market is holding, with the relief rally driving 30-year yields down a wild 105 basis points in a few hours.

Activists, some dressed as jesters, hurled the dye at the imposing neo-classical building, known as “the Old Lady of Threadneedle Street” as they demonstrated against the finance sector’s support of what they say is a climate catastrophe.

The Old Lady of Threadneedle Street might temper some of that optimism.