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

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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 - 17h
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  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 - 19h

• China’s bond market is screaming deflation

  Investors to Beijing: C-, must do better
  
  Financial Times - 21h

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

  Debt market flare-ups show growing pushback against governments’ loose fiscal policies
  
  Financial Times - 1d

• 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 - 1d
• 

  Snow and ice warnings remain after floods hit UK

  The Met Office says wintry weather is expected to bring icy roads and travel delays across the UK.
  
  BBC News - 3d

• 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 - 5d

• 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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  World breaches 1.5C global warming target for first time in 2024

  Data for warmest year sparks fears climate change is accelerating faster than expected
  
  Financial Times - 8h
• 

  The rising threat of deadly diseases jumping from animals to humans

  Zoonotic pathogens very likely caused the last pandemic. Can we get better at halting them before the next one?
  
  Financial Times - 6h
• 

  The uncomfortable truth about social media networks

  It may be impossible to run an uncensored network while presenting an environment where anyone can feel safe
  
  Financial Times - 6h
• 

  Why everyone else can panic about rising bond yields

  In the US they signal optimism while I’m loving a weaker pound
  
  Financial Times - 6h
• 

  Oil price hits 3-month high on strong China demand

  Financial Times - 12h

More in Business

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  The Fed Is in no Rush to Cut Rates, Even if There Is a Weak Jobs Report

  Fed officials have signaled that it will take more than one weak report to convince them that the labor market is deteriorating.
  
  The New York Times - 20m

• My wife and I passed on a family wedding due to a ‘no-child’ rule. We’re now attending a friend’s nuptials without our kids. Are we hypocrites?

  “My in-laws are coming to watch our 7-year-old daughter and her 2-year-old sister.”
  
  MarketWatch - 20m

• World’s largest chip maker, Taiwan Semiconductor Manufacturing, reports record sales

  The key supplier of advanced chips for the world’s leading tech companies saw record revenue in the final quarter of 2023.
  
  MarketWatch - 21m

• What the Stock Market Could Do Trump’s First Year, According to History

  The S&P 500 tends to see weaker returns during the first year of a new White House over the last century.
  
  Inc. - 22m

• Treasury yields rise ahead of payrolls report

  U.S. bond yields rose on Friday ahead of pivotal data on the jobs market.
  
  MarketWatch - 23m