The MSCI World Index which covers the stock markets of developed countries, has hit all-time highs - during the pandemic.

With the Dow, FTSE 250 and European/World exchanges also breaking records. Levels are higher than pre-covid.

Sterling is faring particularly well too, and covid seems to be having a very positive influence on international finance.

No idea why, although many appear to be benefiting from this virus - with governments regularly having to provide billions.

Not any more! A major correction this morning.

Wiping 33 billion off the LSE, equating to around 2%.

Covid, Brexit, lockdowns, travel/transport - all factored in.

Stock markets remain uncertain - in the light of Mr Sunak's revelation today - that we're borrowing over £1 billion every single day, just to pay for everything.

Few cuts have yet been made, except pay freezes for 1.3 million public sector workers. In the year to March 2021, borrowings are expected to exceed £372 billion.

Obviously this can't continue - and our economic problems will steadily manifest themselves in all aspects of life. Tax revenues have been drastically depleted.

The March 3rd Budget will be vicious and could include anything - with a rethink on Capital Gains Tax likely. Meaning that the sale proceeds of domestic residences may no longer be tax free - at least, entirely.