Oil prices have surged on the news that non-OPEC but nonetheless oil producing countries have reached a new output deal. The move is intended to reduce the global glut resulting from recent entrants- particularly from the US. Investors in the UK are already processing the price boost: yields on 10-year UK gilts have 1.5% for the first time since May. Higher inflation expectations seems to lie behind the rise.
For this story and others shaping markets today, Share Radio's Ed Bowsher was joined in the studio by Simon French, Chief Economist at Panmure Gordon.