Idea of creating a virtual industry in the rural world launched by Traction on Demand

The idea of building community through the tech world in a rural context is gaining traction in Nelson. The seed of Traction on Demand’s Small Town Initiative has been sown in the Heritage city and looks further afield to germinate in areas that have historically been devoid of the technology sector. The initiative addresses a need to establish tech employment opportunities where people want to live, Traction on Demand’s (ToD) chief executive officer and founder Greg Malpass said, not where tech

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UK two-year gilt yields rise after BoE signals stimulus reversal

The yield on two-year British government bonds hit their highest levels in over two weeks on Friday, a day after the Bank of England spelled out plans for a “modest” reversal of its huge stimulus to support the economy through the COVID-19 crisis. The two-year gilt yield rose by more than two basis points to a high of 0.117%, its highest since July 22. Rate futures suggested investors were pricing in a first 15 basis-point rise to take the BoE’s benchmark Bank Rate to 0.25% around May next year.

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