For the first time in a quarter century, the S&P 500 Index turned in back-to-back calendar year returns greater than 20%.

For the first time in a quarter century, the S&P 500 Index turned in back-to- back calendar year returns greater than 20%. Read more here.

The move from Barclays and Santander was hailed by experts, who said it was about time lenders started passing the reduction in swap rates and the cut to the Bank of England's base rate to customers.