US: House Republicans Decline To Fast Track Senate DHS Bill, Shutdown Continues
The House declined : https://x.com/CraigCaplan/status/2039687835213566000?s=20to take up a Senate bi...
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UK DMO UPDATE: Remit Breakdown: All Buckets Marginally Higher Than Median
(Except linkers):
STIR: Repo Reference Rates
- Secured Overnight Financing Rate (SOFR): 3.71% (+0.03), volume: $3.404T
- Broad General Collateral Rate (BGCR): 3.69% (+0.03), volume: $1.380T
- Tri-Party General Collateral Rate (TCR): 3.69% (+0.03), volume: $1.353T
- (rate, volume levels reflect prior session)
UK FISCAL: Reeves-Will Lay Out Proposals For Closer EU Ties In Coming Weeks
Delivering her Spring Forecast Statement, Chancellor of the Exchequer Rachel Reeves says "In my second Mais lecture in two weeks, I will set out three major choices that will determine the course of our economy into the future: To go further in strengthening our global relationships…breaking down trade barriers and deepening alliances with our European partners for a more secure, connected economy. To go further in backing innovation and harnessing the power of AI…And to go further in transforming our economic geography…so that we can build growth on a broad and stable basis..."
- Criticising the main opposition centre-right Conservatives for their time in gov't, Reeves outlines what the party "inflicted on working people over fourteen years": "Austerity – which cut off investment, Brexit – which cut us off from our closest trading partner, And Liz Truss’s disastrous mini-Budget". Putting Brexit into the same category as austerity and the Truss mini-budget could be viewed as Reeves and the Labour gov't formally labelling the UK's leaving the EU as a mistake.
- Starmer, Reeves and other senior Labour figures remained categorically neutral on the issue in the run-up to the 2024 general election, however there are increasing signs Starmer is willing to seek closer links with the EU, potentially to shore up support on the left of the party, and potentially taking the view that most anti-EU Labour voters have already shifted support to the right-wing Reform UK.
- Reeves concludes the statement without any 'rabbits from the hat' in terms of new policies (as had been heavily indicated beforehand). Shadow Chancellor Mel Stride responds, calling the lack of new policy 'complacency'.
