We wrote yesterday that we think the bottom is NOT in for Florida real estate. This view is bolstered by the fact that mortgage rates are spiking up fast.

As expected, UK interest rates come down a quarter per cent to 5%. London equities are down 75 points, the pound is grovelling against the euro like never before and DSG International (Curry’s/PC World) says promotional goods are all that’s selling, as it dishes out another profit warning.