UK's ‘Harsh Light of Fiscal Reality’, Oil Drops & Japan Faces Political Turmoil
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On today's podcast:
(1) UK Prime Minister Keir Starmer said his government would “embrace the harsh light of fiscal reality,” as Chancellor of the Exchequer Rachel Reeves prepares to reveal a historic package of tax hikes and extra borrowing in a make-or-break budget on Wednesday.
(2) Oil tumbled more than 5% at the start of the week after Israeli strikes against targets in Iran avoided the OPEC member’s crude facilities, raising the prospect for easing hostilities in the region.
(3) Japan faces a period of political instability after the ruling coalition failed to win a majority in parliament for the first time since 2009, setting up a race among two main blocs to form a government.
(4) Boeing is planning to launch a capital raise as early as Monday, according to people familiar with the matter, in an offering that would help the beleaguered airplane maker boost its liquidity.
(5) Slowing profit growth is removing some of the invincibility surrounding the stock market’s technology giants as they prepare to report earnings this week. Whether they can reverse that trend will go a long way to determining if the rally in equities can keep going.
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