Breaking news:
The UK and EU have agreed a historic post-Brexit reset of ties ahead of a summit in London on Monday, officials said - link to FT article >>> https://lnkd.in/ea6m_PnK The UK and EU have agreed a historic post-Brexit reset of relations after a “late breakthrough” in overnight talks ahead of a summit in London on Monday, officials on both sides said. The UK agreed to open its fishing waters for 12 more years to EU boats — a move that will be condemned by the opposition Conservatives — according to Brussels officials. In return, UK Prime Minister Sir Keir Starmer has secured a veterinary deal that will remove much red tape for British farming and fisheries exports to its biggest market, in a much-sought economic prize of the “reset” talks. Three EU diplomats confirmed Brussels had dropped demands to link the duration of the agrifood deal to the one for fish, while British officials confirmed that a deal on the two issues had been done. Both sides were locked in intense haggling through the night over key details of their revamped relationship, including on fisheries and food trade, along with wording about a proposed youth mobility scheme. Source: FT
Britons are being urged to stay home today between 11 a.m. and 3 p.m. because the temperature is set to reach... 24 to 26 degrees.
Isn't it too much?
🚨BREAKDOWN: LONDON-HEATHROW SHUTS DOWN AFTER MASSIVE POWER OUTAGE
London’s Heathrow Airport — one of the busiest in the world — will be completely closed Friday after a major fire at a nearby electrical substation triggered widespread blackouts across West London. Thousands of flights are impacted, with over 120 planes currently en route to Heathrow now forced to divert across the U.K. and Europe. Authorities have not given any timeline for reopening. Millions of passengers will be affected in what could become one of the largest airport shutdowns in years. Source: @sentdefender thru Mario Nawfal on X
OUCH! UK 10y yields rose as much as 14bps to 4.82%, highest since Aug. 2008
Source. HolgerZ, Bloomberg
‘Renting is nothing short of brutal. Rents are rising at an astronomical and unsustainable rate.’
Rents in London increased by 11.6% in the 12 months to November 2024. Source: FT
The Bitcoin Industrial Complex crushed their record yesterday with $50b in volume (for context that's same as ADV of entire UK stock market).
$MSTR alone was $32b of it. $MSTU and $MSTX combined for $6b (which is more than all the spot btc ETFs, which were also elevated). What a scene... Source: Eric Balchunas, Bloomberg
UK borrowing costs hit highest level this year as gilt sell-off intensifies.
This should not come as a surprise, Eurizon SLJ Research's Stephen Jen says: When the debt stock is 99% of GDP, and the govt imposes the largest tax hike post-WWII and the largest increase in spending in multi-decades, why should one be surprised that the bond market shows signs of indigestion? Source: HolgerZ, FT
JUST IN : UK'S GOVERNMENT IS CONSIDERING RAISING CAPITAL GAINS TAX TO AS HIGH AS 39% PER THE GUARDIAN
Source: @gurgavin
