It's been a long time coming but a change is gonna come. Sam Cooke was unlikely to have been talking about fixed interest, but he might as well have been. Bond yields continued to head upwards in October, reversing decades of rising prices. Elsewhere inflation finally arrived on the UK scene and banks are looking more appealing again, particularly with a US rate rise on the cards.
Finally inflation has ticked up in the UK, driven by plunging sterling since the UK's vote to leave the EU. The Bank of England has been targeting 2 per cent inflation to no avail. But last month we learnt that in September consumer price inflation rose more than expected, by 1 per cent.
Meanwhile, another measure of inflation expectations, the five-year break-even inflation rate, is now at its highest in two years.