Die britische Kreditstrafe lässt nach, da Reeves das Vertrauen in die Anleihemärkte gewinnt
https://www.bloomberg.com/news/articles/2025-12-12/uk-borrowing-penalty-fades-as-reeves-wins-trust-in-bond-markets
Von Jared_Usbourne
Die britische Kreditstrafe lässt nach, da Reeves das Vertrauen in die Anleihemärkte gewinnt
https://www.bloomberg.com/news/articles/2025-12-12/uk-borrowing-penalty-fades-as-reeves-wins-trust-in-bond-markets
Von Jared_Usbourne
7 Kommentare
Can’t wait for the usual outlets to spin this as “In another blow to Reeves”.
We’re all skint as fuck, but that’s okay. 3 cheers for the Bond Markets!
Daily mail: reeves from accounting gets lucky with the bond markets.
This is obviously good news, but don’t read too much into it. It’s mostly down to fiscal headroom (which will evaporate because we’re addicted to spending) and reduced debt issuances (which even in recent history doesn’t last long).
The second half of the article suggests the headline is a bit simplistic. There are other things going on including the changes made by the BoE, changes to borrowing and what other countries are doing.
I still think the Budget with its spend now, raise taxes and cut growth in spending later approach is unrealistic, especially with the timing of the next general election. Simply won’t happen. Best scenario is that we get unexpected growth so it doesn’t need to happen. Other options are a new revised 4 year forecast in a years time – possibly under a new Chancellor – with savings and taxes promised in year 4 yet again (but which will be a year later than currently planned) – otherwise known as kicking the can down the road.
And if Starmer goes, Reeves is likely to go as well, and the odds for Starmer lasting more than another 12 months are not high.
How am I supposed to froth at the mouth about this? Fuck sake.
As an aside, we pay more interest on debt than the state pension costs so it is quite an important financial lever.