In a rare glimmer of hope amidst Venezuela's economic collapse, a newborn infant was pulled alive from the debris of a collapsed building in Caracas on Tuesday. British medical teams stationed at a field hospital provided emergency neonatal support, stabilising the child before evacuation. The event underscores the human cost of a nation where inflation has destroyed infrastructure and basic services.
For the markets, this is a footnote. But for the City, it is a stark reminder that capital flight from failed states leaves only rubble and the desperate. The Bank of England's focus on domestic inflation seems parochial when a baby's first breath is a global headline.
Yet the resilience of life, like gilt yields, can surprise even the most cynical observer.
