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How major US stock indexes fared Tuesday, 5/13/2025

时间:2010-12-5 17:23:32  作者:Life   来源:Cricket  查看:  评论:0
内容摘要:"I have to hide my phone underneath books or behind my laptop," says Emma. "If I see it, I'll just go on it."

"I have to hide my phone underneath books or behind my laptop," says Emma. "If I see it, I'll just go on it."

This is one of the many differences from Liz Truss’ mini budget and is sometimes underrated. During that budget in 2022, the markets were not just testing the economic credibility of a PM and chancellor, but their political credibility too, to get a rather different set of economic policies through the Commons.Look at France right now, which is trying to rein in its levels of government borrowing, but has a minority government made up of the third biggest party, trying to pass tough measures.

How major US stock indexes fared Tuesday, 5/13/2025

The markets don’t have as much confidence in a minority government as they would in a government like the UK, which has a big majority.Two critical assets for a new chancellor (that eluded Kwasi Kwarteng) are political credibility to pass Budgets, and financial credibility with markets.On the crucial government bond markets, which are a verdict on budgets, but also impact the rate of mortgage and business loans, it is fair to say there is more than an arched eyebrow now.

How major US stock indexes fared Tuesday, 5/13/2025

While at the time of the Budget speech there was no response, the publication of the plans for the increase in the sale of government bonds has. This is because the government is borrowing more than the markets expected. The reaction now is notable, but remains orderly.

How major US stock indexes fared Tuesday, 5/13/2025

This is partly a market repricing of the increased need for loans to the UK government, and the expectation that the Bank of England, facing more post-Budget inflationary pressures, will no longer cut interest rates quite as quickly.

Rates might not fall below 4% next year, as previously expected. The next words from the Bank of England, when it releases its new inflation forecast next week, will be closely watched.After three nights behind bars, a judge agreed to suspend Amesbury's jail term for two years.

Under concerted pressure to quit the House of Commons, Amesbury - who lost the Labour whip after he was arrested last autumn and has since been sitting as an independent MP - agreed to stand down.Runcorn and Helsby includes the towns of Runcorn, Frodsham and Helsby, as well as various villages and a significant rural area.

In total, 22% of the constituency is classed as a built-up area, 60% rural and 14% as water or wetland.It has a population of 93,520, with 21% of residents under 18, 57% aged 18-64 and 21% over 65.

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