UK PM Burnham says “we've got to show that our commitment to the fiscal rules is real and we're prepared to make difficult decisions in relation to that", Bloomberg's Wickham reports
UK PM Burnham's emphasis on a serious commitment to fiscal rules suggests potential austerity measures or budgetary constraints ahead.
US Philly Fed Non-Manufacturing Activity (Jul) +7.4 (prev. -25.8)
State Street (STT) files to sell 2-part debt offering
UK PM Burnham says “we've got to show that our commitment to the fiscal rules is real and we're prepared to make difficult decisions in relation to that", Bloomberg's Wickham reports
A very large crude carrier has made a U-turn in the southern Red Sea after warnings from Houthi rebels in Yemen that they would target ships heading to or from Saudi ports, reports Bloomberg
US Treasury Secretary Bessent, on government funding, says the US does not need another shutdown; would like to see the Clarity Act pass before Congress goes home
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This statement could signal a tightening of fiscal policy, which may influence market perceptions of UK economic stability. Traders should monitor how this rhetoric impacts GBP and related markets, especially if perceived as a shift towards more conservative economic management.
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