Apologies for lack of comment y'day. I was out on a sailing day raising money for Wessex Heartbeat, a most excellent charity who provide care and support for all those affected by cardiovascular disease – they are particularly close to my own travails with a dodgy ticker! Despite it being June, we were cold, wet and freezing! But, we came back smiling because a Bad Day on the Water trumps a good day in the office anytime! Not sure we can be so cheery about difficult markets.

Back in the Real World (1) - We started with a discussion on the Tory leadership race, but the consensus on the desk was all the front-runners are patently rubbish with zero chance of resolving Brexit to anyone's satisfaction. Well known City trader sitting next to me (who doesn't want to be named), reckons its Boris by default on the basis at least we might get a giggle before the inevitable plunge into a Corbyinista Hell..   Oh, come on… "anything's got to be better than the fridge", said the sausage after being plucked from the freezer and stuck under the grill…