Political turmoil in Peru
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 8 December 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
The US bond market is signalling that investors expect the Federal Reserve to stay the course in its battle to tame inflation, Peru’s congress impeached the country’s president just after he announced he was dissolving the legislature, and German police made arrests related to an alleged rightwing plot to overthrow the government. Plus, US supply chain disruptions have eased, which is helping to bring down inflation.
Mentioned in this podcast:
Bond market signals bets Fed will stand firm in battle against inflation
Peru’s president dissolves congress ahead of planned impeachment vote
German police uncover alleged rightwing plot to overthrow government
US straightens out supply chains after months of inflationary snarls
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. 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 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.9 | Good morning from the Financial Times. |
| 0:11.4 | Today is Thursday, December 8th, and this is your FT News Briefing. |
| 0:19.0 | The bond market is showing that the US economy is in for a bumpy ride. |
| 0:23.2 | Peru removed its president yesterday and swore in a new one, |
| 0:27.7 | and German authorities uncovered an attempt to overthrow the government. |
| 0:32.0 | Plus, your holiday shopping list might be in better shape this year. |
| 0:35.7 | US supply chains have done a U-turn since last holiday season. |
| 0:39.8 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:51.3 | There's another sign the US could tip into an economic recession. |
| 0:54.8 | The yield curve is the most inverted that it's been since 1981. |
| 0:59.5 | The yield curve is a chart that shows interest rates from short-term bonds to long-term bonds, |
| 1:04.9 | in this case the two year and the ten year. |
| 1:07.2 | When the curve is inverted, like it is right now, it means yields on short-dated bonds are higher |
| 1:12.7 | than yields on longer-dated bonds. Short-dated treasury yields reflect expectations of where |
| 1:18.0 | interest rates will be in the future, and investors right now keep selling treasuries because they |
| 1:22.8 | think the Federal Reserve is going to keep aggressively raising interest rates to fight inflation, |
| 1:27.9 | and that could drive the economy into a recession. |
| 1:35.6 | Peru's Congress voted to impeach President Pedro Castillo yesterday and then swore in a new |
| 1:40.8 | president. This all came after Castillo announced that he was going to temporarily dissolve parliament. |
| 1:46.5 | Here to talk more about what this means for the country is the FT's Joe Park and Daniels. |
... |
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