Treasurer

What makes that Salisbury win worth noting is the context. Two-year-olds are essentially racehorses in their first year of school, and the ones who win early tend to be a cut above their peers in terms of natural ability or physical maturity. Treasurer has done exactly that, and the runner-up finish elsewhere suggests the Salisbury victory was no fluke — this is a horse that keeps finding the frame.

The trainer is Charlie Fellowes, based in Newmarket, the spiritual home of British flat racing. Fellowes has sent out 21 winners already this season, which tells you this is a yard in good form and operating with confidence. A young horse learning its trade in that kind of environment — surrounded by staff who know what a winner looks like — tends to benefit. Treasurer is in good hands.

Three races is a small sample, but what the record shows is encouraging: no disasters, no signs of a horse that finds it all too much. The most recent run was literally yesterday, so Treasurer is as live and current as it gets. Whether this horse develops into something serious over the summer remains to be seen, but the early signs are promising, and the team at Newmarket will have a clearer sense than most of what they have on their hands.