Whitehall braced for spending cuts after UK hit by bond market turmoil

• 

  Starmer aims to refocus attention on growth after hit from markets

  UK PM pledges to be ‘best state partner’ for AI companies as he faces ominous economic and political backdrop
  
  Financial Times - 3d

• Spike in UK borrowing costs raises specter of public spending cuts

  Former U.K. Finance Minister Vince Cable told CNBC on Friday that the UK was not in an "emergency panic situation," but was stuck in a low-growth trap.
  
  CNBC - 3d
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  UK government seeks to soothe bond market nerves after borrowing costs soar

  Treasury vows to stick to its fiscal rules and says gilt markets functioning ‘in an orderly way’
  
  Financial Times - Jan. 9
• 

  Bond market turmoil eases as Treasury minister says ‘no need’ for government intervention – business live

  Lib Dems say chancellor should stay and make emergency fiscal statement and also cancel planned national insurance hike. Reeves’ fiscal rules non-negotiable in face of bond sell-off, deputy ...
  
  The Guardian - Jan. 9

• Bond market ‘police’ are back as investors patrol spending plans

  Debt market flare-ups show growing pushback against governments’ loose fiscal policies
  
  Financial Times - Jan. 9

• Whitehall estimates child sexual abuse compensation could hit £10bn

  Starmer has criticised previous Conservative government for not implementing recommendations of 2022 Jay review
  
  Financial Times - Jan. 8

• Congestion pricing in NYC starts after years of turmoil

  The countdown to congestion pricing in New York City is over. Drivers now must pay a toll to enter Manhattan south of 60th Street.
  
  CBS News - Jan. 5

• Chinese stock market slump deepens with bond yields hitting record lows as PBOC reportedly signals rate cuts

  Economic data on tap appeared thin on Friday, while investors in Asia continue to assess China's monetary easing policy, political chaos in South Korea.
  
  CNBC - Jan. 3

• U.S. dollar index hits more than two-year high as markets brace for Trump return

  Optimism around the U.S. economy was in focus as markets reopened following disrupted trade over Christmas and the New Year's holiday.
  
  CNBC - Jan. 2

More from Financial Times

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  Trump’s Treasury pick warns unwinding tax cuts would spark ‘economic calamity’

  Scott Bessent also tells US senators in heated confirmation hearing that he backs tougher sanctions on Russian oil
  
  Financial Times - 2h
• 

  How Trump swung the Gaza ceasefire deal

  After months of deadlock, the US convinced Netanyahu it was time for Israel to make concessions
  
  Financial Times - 8h
• 

  What the Israel-Hamas ceasefire means for the world

  While the Israelis emerge from the conflict as the Middle East’s superpower, the international rules-based order lies in tatters
  
  Financial Times - 11h
• 

  ‘A new bleeding will begin’: Gazans prepare for life after Israel-Hamas war

  Residents celebrate impending ceasefire but realise future holds grief over months of death and destruction
  
  Financial Times - 7h
• 

  Far-right minister threatens to quit Israeli government over Gaza ceasefire deal

  Itamar Ben-Gvir says his party will leave Benjamin Netanyahu’s coalition if it implements the truce agreement
  
  Financial Times - 3h

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