This week rates have headed resolutely upwards, and stocks have not liked it much with most markets heading steadily downwards throughout the week.

Last week markets were down again, reflecting the trends that took root in September - long-term yields pushing higher with markets on the back foot.

Equity markets around the world fell more or less in unison last week by about 3-4%, before bouncing slightly on Friday. The UK was really the only market to buck the trend, as the Bank of England unexpectedly kept rates on hold after inflation fell by more than forecast.