You will have noticed that #RishiSunak has beeb unable to deliver a comprehensive #freetrade deal with the USA, instead having to settle for #POTUSBiden's list or priority areas for trade enhancement.

Its only a 'special relationship' where the interests served are reciprocal - if one side sets the agenda & the other smiles while agreeing, then this may be friendly but the UK remains a client state to its master.... yup, we're still the State's poodle (whatever Rishi says through a false smile)

Q. is the demise & rescue/sale of #SiliconValleyBank an anomaly in a broadly stable #finanacial system, or the canary in the mine on regulatory problems in #financialservcies?

Right now, #RishiSunakPM & #POTUSBiden will be hoping their swift action(s) will have forestalled a wider crisis, but this morning dips in bonds & banking shares suggest some jitters among #investors in banks.... if contagion starts to gather pace the financial sector's 'stability' may prove illusionary - time will tell!

You'll have noticed some trouble with #SiliconValleyBank last week;

its an interesting illustration of a number of issues (which have been widely discussed over the weekend) but particularly allows us to draw a distinction between #POTUSBiden & #RishiSunakPM' approach to state 'intervention' in such cases:

The US is using its regulatory system to shore up depositors/clients in the crisis...

and the UK; we're trying to get #MiddleEast financials to buy the UK's SVB operations!

h/t FT