Are we done yet

Calling the bottom in any bear market is fraught with danger. Certainly we have seen some level of stabalization in financial markets and over the last week or so a level of confidence in equity markets. Things are not all rosy however, with the UK publishing a dramatic rise in umemployment last month. That said however, the fall out of any crisis will take some time and unemployment will continue to rise in the early stages of growth.

We have seen increased levels of activity in financial technology projects over the last four weeks. Slim shoots, but important ones, and as a result our investment apetite is also changing.

Perhaps it is now the time to concentrate on improving the state of sterling and appropriate regulation. I only hope that in doing so government does not un-do the small steps of progress made in the last few weeks