Francis Diamond, Head of European Rate Strategy at J.P. Morgan, shares insights alongside colleague Jay Barry. They discuss the recent decisions by the Federal Reserve and Bank of England, highlighting their contrasting stances. The complexities of interest rate dynamics in the UK and US are dissected. They delve into the Bank of England's new liquidity policies and the Federal Reserve's challenges with funding volatility. Additionally, the looming government funding concerns and potential debt ceiling implications are emphasized, showcasing the uncertainty in the markets.