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cover of episode Reeves' Tears & Market Fears, FX ‘Weaponization', £133M Divorce Ramifications

Reeves' Tears & Market Fears, FX ‘Weaponization', £133M Divorce Ramifications

2025/7/3
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Bloomberg Daybreak: Europe Edition
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People
E
Ewan Potts
G
Greta Peisch
J
James Walcott
J
Jim Jordan
以强硬和对抗性的政治风格著称的美国众议院成员，积极推动保守派议程和调查政府机构。
K
Keir Starmer
L
Luca de Paoli
S
Stephen Carroll
Topics
Keir Starmer: 作为英国首相，我必须强调 Rachel Reeves 将继续担任财政大臣，她的眼泪与政治无关，而是个人事务。我们一直共同致力于改变工党、赢得选举和改变国家。我对她充分信任，她将继续担任财政大臣很长时间。我坚决支持她，因为她是工党财政稳定和信誉的象征。 James Walcott: 昨天在议会中，Rachel Reeves 显得情绪激动，引发了市场对英国财政状况的担忧。市场认为财政部和首相之间存在问题，导致了债券抛售。解雇 Rachel Reeves 将对工党的财政稳定和信誉造成严重打击。工党内部对财政政策方向存在分歧，Reeves 代表财政信誉，而其他议员则希望增加福利支出和征收财富税。现在的问题是，工党内部谁将胜出，是代表财政信誉的 Reeves，还是希望改变福利政策的议员？

Deep Dive

Chapters
Prime Minister Keir Starmer's delayed support for Chancellor Rachel Reeves after a visible emotional moment in Parliament triggered a sharp reaction in the bond market, with gilt yields surging and the pound falling. The incident followed a recent government U-turn on welfare reforms, adding to market uncertainty. The chapter analyzes the political fallout and market implications of this event.
  • Rachel Reeves' emotional display in Parliament
  • Subsequent bond market sell-off
  • Gilt yields surged 19 basis points
  • Pound tumbled
  • Keir Starmer's delayed support for Reeves
  • Concerns about government fiscal stability

Shownotes Transcript

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:

(1) UK Prime Minister Keir Starmer said Rachel Reeves will stay on as Chancellor of the Exchequer, as he sought to draw a line under speculation about her future that sparked a bond selloff.

(2) As speculation of Reeves’ potential ouster raced through markets, 30-year gilt yields surged 19 basis points Wednesday, the biggest jump since April and one strong enough to send ripples into US Treasuries. Stocks slid. And the pound tumbled as investors headed for the exits, skeptical of Starmer’s continued commitment to shoring up the nation’s precarious finances.

 (3) The “weaponization” of foreign exchange is posing a growing headache for central bank reserve managers, giving them more reason to boost their holdings of gold.

(4) House Republican leaders struggled to find the final votes to advance Donald Trump’s massive tax and spending package, holding a key vote open for hours as the president and his allies worked to win them over but expressing confidence the legislation would eventually pass.

 (5) President Donald Trump’s administration has lifted recent export license requirements for chip design software sales in China, as Washington and Beijing implement a trade deal for both countries to ease some restrictions on critical technologies.

(6) President Donald Trump said he had reached a trade deal with Vietnam following weeks of intense diplomacy between the nations and ahead of a deadline next week that would have seen higher tariffs imposed on the country’s imports.

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