A warning shot to the Treasuries market
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 20 May 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
The US may be stepping back from its role as mediator in the war in Ukraine, and US long-term borrowing costs rose to their highest level since late 2023 on Monday. US drugmaker Regeneron has agreed to buy 23andMe out of bankruptcy, and the EU and the UK have announced a deal to “reset” their relationship at a summit in London.
Mentioned in this podcast:
Trump leaves Russia and Ukraine to settle war in talks
US borrowing costs climb after Moody’s downgrade
23andMe sold out of bankruptcy to Regeneron
UK-EU post-Brexit reset: the key points
Today’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, Lulu Smyth, and Marc Filippino. Additional help from Sam Giovinco, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s acting co-head of audio. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | We're Equinor, an energy company searching for better. Currently, we supply 27% of the UK's gas, |
| 0:07.0 | 15% of its oil, and we're playing our part in the UK's energy transition. In 2023, we invested |
| 0:14.1 | 20% of our global gross spend in renewables and lower carbon solutions. Today, our wind farms power |
| 0:20.0 | 750,000 homes, |
| 0:22.0 | and we expect this to grow to over 7 million UK households. |
| 0:25.7 | We're an energy company searching for better. |
| 0:28.2 | Equinore.co.uk. |
| 0:33.8 | Good morning from the Financial Times. |
| 0:36.1 | Today is Tuesday, May 20th, and this is your FT News briefing. |
| 0:41.2 | Donald Trump told Russia and Ukraine to come up with their own peace plan. |
| 0:46.2 | And the U.S. Treasury market is feeling some pain after a credit downgrade. |
| 0:51.8 | Plus, the U.K.'s response to a new agreement with Europe shows that Brexit is still top of mind. |
| 0:58.8 | In many, many ways, the UK has not moved on from Brexit, and that's why the Labor government |
| 1:04.3 | is being so cautious. |
| 1:06.0 | I'm Sonia Hudson, and here's the news you need to start your day. |
| 1:19.4 | Russia and Ukraine can't count on the U.S. to be a mediator anymore. |
| 1:24.9 | President Donald Trump said yesterday that only Moscow and Kiev could hash out a peace deal. That's because they know details, quote, that nobody else would be aware of. |
| 1:30.7 | Ukraine's president, Vladimir Zelensky, called on Trump not to step back from negotiations. |
| 1:36.7 | Zelensky said Russian president Vladimir Putin is the only one who benefits from that. |
| 1:42.0 | Putin, for his part, did not announce any major shifts in Russia's position |
| 1:46.2 | on the war yesterday. |
| 1:51.9 | The U.S.'s credit rating took a hit on Friday after Moody's downgraded the country's |
... |
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