Lots of politicians have used their political standings to make some big moves in the business world post their political careers but clearly that isn’t for everyone. Nick Clegg has gone on to hold a senior position at Meta, David Miliband is the president and CEO of the International Rescue Committee and Matt Hancock is entering the Jungle for I’m a Celebrity get me out of here. He must be quite short odd favourite for the first Bushtucker trial.

Another rotation around the sun this week for yours truly and someone asked me this morning if the $134k iPhone 14 that comes with a built in Rolex Daytona is on my birthday list. Definitely not – completely out of touch with the current climate in my view and from a practical standpoint I’ve never had a problem with the digital clock on the front of my iPhone and I am quite prone to dropping it.

Again another day when I think there was too much to digest to see that much invested and I’m sure a few colleagues would agree we were all wishing for a little less c̶o̶n̶v̶e̶r̶s̶a̶t̶i̶o̶n̶ earnings a little more action…..please. But under the surface there was a slight shift back in dynamic to what we have seen throughout the year. A quick glance at the sector performance on the day mirrored quite nicely what has happened YTD. Crowded trades being re-populated as Shell, Repsol and Total showed that the Oils is still a sector on the up.

Tony Atkins has been raving about the food market at Paternoster Square pretty much every last Wednesday of the month for the past 6 months. Problem is it happens on the last Tuesday of every month and we’ve missed every single one. So you can imagine my disappointment when we finally remember the day, on the day, to be massively let down when arriving to no market. Apparently a ‘Halloween special’ next week bucking the trend and derailing our plans and it has only added to my dislike of Halloween! (more on that next week).

By no means trying to turn the Snapshot into ‘Monday Kitchen’ but I was home at the weekend and my mum cooked up what must have been the best rich-delicious-winter-warmer ever (not biased at all). Thai massaman lamb curry with all the trimmings and I’m told this is the recipe. 15mins prep and a 3hour cook is my kind of ratio too (though need those gas/elec prices to keep dropping) which gives you time to get on with your day, relax, and tick off those endless to-do’s that you really don’t want to do.

It is a very dangerous finding, but I can confidently report that the Cinnamon Social from Ole and Steen is the premier coffee/meeting accompaniment for all occasions. The Danish bakery knocks up a 2 foot long, feeds-14-or-so slab of deliciousness and the good news is there is a one opening just around the corner from the Redburn office – not what we really need it in the run up to Christmas. Now this market does feel like it is in the midst of a daily balancing act at the moment and in honesty no side is really winning. The U.S. 10yr hit multi-year highs today and the USD was up 60bps which makes any rally in Equity markets for the time being quite tricky to continue.

Before we get started on the day in markets, a big milestone today for something that has been around all my life-time and think can safely say all of the readers. The BBC turns 100 years old today. 91% of Adults in the UK use the BBC each week, 426m people globally access it around the world each week and it has brought us such staples as Blue Peter, Desert Island Discs, Strictly Come Dancing and Top Gear over the years. Markets in top gear this week thus far and motoring on with a combination of factors likely at work.

For regular readers of the Snapshot you’ll be aware that I’m quite easily impressed by sporting feats. But even I am a bit taken aback by the incredible story about Nedd Brockmann, an electrician from Australia who just completed one of those ‘How on earth did you do that?” challenges by running 3952km from Perth to Sydney in just 47 days, raising a huge amount of money for the homeless. I bet the first beer tasted pretty good! Mr Kwarteng might be having a few cold ones right about now as his budget has been completely ripped up by Jeremy Hunt and Liz Truss.

I’ll let you all into a little sales-trader secret and I hope you aren’t too shocked – sometimes when there is a little more time, I try to pen some of the Daily Snapshot before the European trading day is behind us. The benefits being that on quieter days, what you’ve written earlier in the day is often the case by close of play, the downside being when everything changes half way through and you have to re-write the whole thing. Luckily, today was a day I decided to leave it late, let the dust settle following the UK U-turn headlines and CPI mess and then crack on. Headline CPI the big event and it disappointed.

Of all the headlines that caught my eye today, the best had to be the Bank of England’s Jonathan Haskel saying that he won’t speak about Monetary Policy today. I might try my luck with Mr Quick and declare that I shall not be speaking about stocks or the broader markets tomorrow but have a feeling that a) no one would to listen to my other ramblings, b) I certainly wouldn’t be very good at my job and c) I think I might be a little bored sitting here all day if I wasn’t. This is what you are paid to do Mr Haskel.