The housing supply problem: Part I
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 25 May 2023
⏱️ 13 minutes
🧾️ Download transcript
Summary
UK gilt yields hit levels not seen since last year’s “mini” Budget crisis, and Australia’s government has referred a PwC tax leak scandal to the country’s federal police. Plus, in part one of our series on housing, the FT’s Sonja Hutson looks at why there are so few homes on the US market.
Mentioned in this podcast:
Gilt yields soar towards ‘mini’ Budget levels after inflation disappoints
Australian government refers PwC tax leaks scandal to police
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Katie McMurran, 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
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 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 |
| 0:10.2 | Good morning from the Financial Times. |
| 0:11.8 | Today is Thursday, May 25th, and this is your FT News Briefing. |
| 0:18.8 | Yields on UK guilds have soared to levels not seen since last year's |
| 0:23.1 | disastrous mini-budget. |
| 0:25.2 | Meanwhile, Australia is going after PWC. |
| 0:28.7 | Plus, we're kicking off a special series on housing. |
| 0:31.8 | In part one, we look at why there are so few homes on the US market. |
| 0:36.0 | In our price range, it was either just outdated, too much work to be done, |
| 0:41.1 | or it was just straight up ugly, and I just didn't really want to live in it, you know. |
| 0:46.8 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:58.4 | The UK released a report yesterday on April's inflation data. |
| 1:04.4 | Overall, prices last month were down from March, but they were still significantly higher |
| 1:10.0 | than what the Bank of England was expecting. |
| 1:12.4 | What's more, core inflation actually rose in April. |
| 1:15.8 | UK bond markets did not like what they saw, and the yield on the two-year guild skyrocketed. |
| 1:21.7 | The FT's Mary McDougall says investors are worried that the BOE is going to turn to |
| 1:26.0 | even tighter monetary policy now. |
| 1:28.9 | Well, the market's completely reset its expectations for how many rate hikes there are going to be. |
| 1:34.5 | People, lots of analysts had thought at the last Bank of England meeting that the Bank of England |
| 1:38.8 | might have stopped raising rates, but now swaps markets are pricing in terminal rates of |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Forhecz Topher, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Forhecz Topher and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.