The story so far · 3 days, October 8 to 18, 2026
One Turn followed this story across 3 editions, from London, United Kingdom on October 8, 2026. Newest first.
Leveraged hedge fund strategies in government bond markets have grown large. Regulators have repeatedly flagged them as a financial stability risk.
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The Bank of England's deputy governor warned that hedge fund activity could increase the risk of a global bond market shock.
Why it matters: Bond market turmoil would raise borrowing costs for governments, firms and households.
Sources: CNBC · See it on the globe
The next series of sterling notes will feature the Atlantic puffin, barn owl, buff-tailed bumblebee and European hedgehog. It is the first time animals will replace people on Bank of England notes, aiming to raise awareness of British wildlife.
Why it matters: The redesign of a major currency signals a shift toward highlighting nature conservation.
Sources: BBC News · See it on the globe
The Bank of England said the Atlantic puffin, barn owl, buff-tailed bumblebee and European hedgehog will appear on the next series of notes. It will be the first time animals replace people on English banknotes.
Why it matters: The redesign aims to raise awareness of British wildlife through an everyday object.
Sources: BBC News · See it on the globe