Confidence in UK financial system 'highest since 2008'

Confidence in the UK financial system has hit a post-crisis high despite soaring valuations pointing towards a correction, according to the FT.

Executives interviewed by the Bank of England (BoE) were more optimistic about the buoyancy of the system than at any other time since 2008, the paper said. However, they did highlight dangers such as rising house prices and geopolitical crises such as the ongoing instability in Ukraine. The report said the confidence peak comes at a time of record highs for equity values, which have triggered some experts in the City to warn of "complacency" among respondents. UBS senior independent economic adviser George Magnus said the “unholy trinity” of rising share prices, very low bond yields...