Trump blocked from sacking Fed official in landmark Supreme Court ruling Politics A landmark ruling from the US Supreme Court has underlined the independence of the country’s central bank by blocking President Donald Trump from dismissing a Federal Reserve official. The knife edge five-to-four decision was handed down on Monday. It ruled that Trump cannot fire Lisa Cook as a Fed governor, a post she has held since 2022. [...]
The worrying bond market trend no one is talking about Markets Spiking interest rates on the UK government’s borrowing costs have set off a fresh wave of commentary on the health of Britain’s economy. Ali Lyon explores why it is only long-dated bonds where tremors have been most pronounced, and why the U has plenty of company. What will you be doing in 30 years’ time? [...]
Borrowing costs surge as gilts close in on 27-year low Markets Long-dated gilts plunged to a near 27-year low on Tuesday, bringing the UK’s fragile fiscal position into even sharper relief in the run-up to the government’s second Budget this Autumn. The yield on 30-year UK government bonds, which moves inversely to the price, jumped by as much as nine basis points to 5.63 per cent, [...]