This week we got a new twist in what is turning out to be a very strange election campaign so far. Despite Jeremy Corbyn’s desire to return to an era of state-run industry being well known, this week’s announcement of a plan to nationalise BT and provide free broadband for everyone still came as a major surprise. While the actual policy should be ignored, as Labour’s chances of forming a majority government are close to zero, early indications are this policy is likely to prove popular with the large section of the electorate that didn’t live through the 1970’s. Increased state ownership might not be ready for a return to UK policy mainstream yet, but it probably will be soon.
Elsewhere we got to see talk of "green shoots" of a recovery in global growth figures, in a nostalgic throwback to 2010. Positive data from Germany suggesting it is has escaped a recession along with increased chance of a resolution to the US-China trade war gives some hope that the global economic slowdown experienced for much of the year could be bottoming out.
Read more on market performance and global equity and bond markets here
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