In the City: Reeves' Rocky January Could Be 'Brief Period of Madness' with Jim O'Neill

Leaders with Francine Lacqua

Bloomberg

Management, Business, Careers, Entrepreneurship

4.6 • 64 Ratings

🗓️ 16 January 2025

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Economist Jim O’Neill says that UK market moves have been exaggerated, but Labour still needs to convince investors its plans are sound. O’Neill also discusses what Chancellor of the Exchequer Rachel Reeves faces going forward. If we are entering a bear market on global bonds, he says, Reeves has an issue with her fiscal framework. But it’s still not time to be an alarmist.

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1:01.7	Bloomberg Audio Studios, Podcasts, Radio News. It's been an interesting weekend in the UK
1:08.6	when it comes to markets on that ground because, so there's a bit of a respite probably from the Chancellor Wednesday today, the day we're recording the podcast because of the inflation numbers.
1:18.1	But otherwise, she's really had to say, look, the bond yield moves are okay. I'm sticking to my targets.
1:23.7	And it's brought back uncomfortable memories of crisis, what crisis in deep history, but also more recent history, with the Liz Trust's terrible September over a couple of years ago, which of course we are not there.
1:35.8	And it would be wrong for us to be saying we were there.
1:38.0	But, you know, it has allowed the commentary out who are not, you know, those that aren't on her side to, you know, get the lettuce metaphor
1:45.6	out of the deep freeze, etc. So she was in Parliament yesterday, the commons she came to address
1:51.7	MPs ostensibly about her China trip, which also, by the way, was not an amazing, amazing
1:57.1	trip where she didn't get very much from the Chinese. And also she had odd language in framing that trip.
	...

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