Andy Bruce (Reuters)
@bruceandy.bsky.social
Bit of this, bit of that at Reuters.
UK economy and north of England correspondent.
☀️ Stockport ☀️
💬 Signal: bruce.369
UK economy and north of England correspondent.
☀️ Stockport ☀️
💬 Signal: bruce.369
Pinned
Drop me a line if you:
💁have an interesting story to tell
⚠️think an issue needs national press attention
☕️have insight into big institutions or powerful people
🙊heard interesting rumours or gossip
DM/Signal in bio
@reuters.com has a long history of protecting sources
💁have an interesting story to tell
⚠️think an issue needs national press attention
☕️have insight into big institutions or powerful people
🙊heard interesting rumours or gossip
DM/Signal in bio
@reuters.com has a long history of protecting sources
Obviously if anyone would like to send me the budget, that would be great too
Drop me a line if you:
💁have an interesting story to tell
⚠️think an issue needs national press attention
☕️have insight into big institutions or powerful people
🙊heard interesting rumours or gossip
DM/Signal in bio
@reuters.com has a long history of protecting sources
💁have an interesting story to tell
⚠️think an issue needs national press attention
☕️have insight into big institutions or powerful people
🙊heard interesting rumours or gossip
DM/Signal in bio
@reuters.com has a long history of protecting sources
November 25, 2025 at 9:51 PM
Obviously if anyone would like to send me the budget, that would be great too
Reposted by Andy Bruce (Reuters)
Drop me a line if you:
💁have an interesting story to tell
⚠️think an issue needs national press attention
☕️have insight into big institutions or powerful people
🙊heard interesting rumours or gossip
DM/Signal in bio
@reuters.com has a long history of protecting sources
💁have an interesting story to tell
⚠️think an issue needs national press attention
☕️have insight into big institutions or powerful people
🙊heard interesting rumours or gossip
DM/Signal in bio
@reuters.com has a long history of protecting sources
April 16, 2025 at 9:19 AM
Drop me a line if you:
💁have an interesting story to tell
⚠️think an issue needs national press attention
☕️have insight into big institutions or powerful people
🙊heard interesting rumours or gossip
DM/Signal in bio
@reuters.com has a long history of protecting sources
💁have an interesting story to tell
⚠️think an issue needs national press attention
☕️have insight into big institutions or powerful people
🙊heard interesting rumours or gossip
DM/Signal in bio
@reuters.com has a long history of protecting sources
Study by University of Liverpool economist Costas Milas suggests BoE QT has raised the 10yr gilt yield by an average of 25 to 30 bps, compared with a counterfactual where the BoE ran down its stock of gilts at half the pace.
Somewhat bigger impact than BoE reckons 👇
www.reuters.com/world/uk/boe...
Somewhat bigger impact than BoE reckons 👇
www.reuters.com/world/uk/boe...
www.reuters.com
November 25, 2025 at 9:28 PM
Study by University of Liverpool economist Costas Milas suggests BoE QT has raised the 10yr gilt yield by an average of 25 to 30 bps, compared with a counterfactual where the BoE ran down its stock of gilts at half the pace.
Somewhat bigger impact than BoE reckons 👇
www.reuters.com/world/uk/boe...
Somewhat bigger impact than BoE reckons 👇
www.reuters.com/world/uk/boe...
Confidence among UK retailers has fallen to its lowest level since Q4 2008, according to a CBI survey just out.
November 25, 2025 at 11:06 AM
Confidence among UK retailers has fallen to its lowest level since Q4 2008, according to a CBI survey just out.
Reposted by Andy Bruce (Reuters)
Wrote about this here. The "anomaly" of the divergence between hard indicators of economic performance and soft indicators of sentiment disappears once if you include higher interest rates, leading to higher mortgage and car payments, in inflation. www.economist.com/finance-and-...
November 25, 2025 at 9:24 AM
Wrote about this here. The "anomaly" of the divergence between hard indicators of economic performance and soft indicators of sentiment disappears once if you include higher interest rates, leading to higher mortgage and car payments, in inflation. www.economist.com/finance-and-...
What is it about guys born in the 1950s salivating over capital controls?
That's the third call I've heard in the last month!
That's the third call I've heard in the last month!
November 25, 2025 at 8:11 AM
What is it about guys born in the 1950s salivating over capital controls?
That's the third call I've heard in the last month!
That's the third call I've heard in the last month!
Hi Trevor have you heard of the internet
Trevor Phillips proposes banning "remittances" (ie: imposing currency/exchange controls on international cash transfers by foreign nationals from Britain). He says this would disincentivise immigration, in a Times piece saying the Home Secretary needs to go [much] further
archive.ph/RlXPj
archive.ph/RlXPj
November 25, 2025 at 7:50 AM
Hi Trevor have you heard of the internet
Reposted by Andy Bruce (Reuters)
Yes, there are spending multipliers etc - and yes, Kuenssberg spouted vacuous talking points.
BUT.
There is a bond market (or more generally a macro) constraint to borrowing, as there was in the 2010s - we just weren't near it then. Dodging the issue/pretending it doesn't exist isn't a policy.
BUT.
There is a bond market (or more generally a macro) constraint to borrowing, as there was in the 2010s - we just weren't near it then. Dodging the issue/pretending it doesn't exist isn't a policy.
@zackpolanski.bsky.social on the importance of spending multipliers & borrowing to invest
Zack is, without doubt, a great communicator. And on him talking about democracy & the bond markets I'm reminded of Eddie Dempsey at the Durham Miners Gala when he asked "who elected the bond market?"
Zack is, without doubt, a great communicator. And on him talking about democracy & the bond markets I'm reminded of Eddie Dempsey at the Durham Miners Gala when he asked "who elected the bond market?"
November 24, 2025 at 8:14 AM
Yes, there are spending multipliers etc - and yes, Kuenssberg spouted vacuous talking points.
BUT.
There is a bond market (or more generally a macro) constraint to borrowing, as there was in the 2010s - we just weren't near it then. Dodging the issue/pretending it doesn't exist isn't a policy.
BUT.
There is a bond market (or more generally a macro) constraint to borrowing, as there was in the 2010s - we just weren't near it then. Dodging the issue/pretending it doesn't exist isn't a policy.
Macc clearly a lightning rod for shifts in British politics.
First the parliamentary seat flips to Labour after being Tory for god knows how long. Now a Green councillor elected right in the middle of town!
First the parliamentary seat flips to Labour after being Tory for god knows how long. Now a Green councillor elected right in the middle of town!
Macclesfield Central (Cheshire East) Council By-Election Result:
🌍 GRN: 41.8% (+19.7)
🌹 LAB: 28.6% (-25.7)
➡️ RFM: 15.8% (New)
🌳 CON: 9.1% (-4.5)
⚖️ EQU: 2.5% (New)
🔶 LDM: 2.2% (-7.7)
Green GAIN from Labour.
Changes w/ 2023.
🌍 GRN: 41.8% (+19.7)
🌹 LAB: 28.6% (-25.7)
➡️ RFM: 15.8% (New)
🌳 CON: 9.1% (-4.5)
⚖️ EQU: 2.5% (New)
🔶 LDM: 2.2% (-7.7)
Green GAIN from Labour.
Changes w/ 2023.
November 21, 2025 at 11:06 AM
Macc clearly a lightning rod for shifts in British politics.
First the parliamentary seat flips to Labour after being Tory for god knows how long. Now a Green councillor elected right in the middle of town!
First the parliamentary seat flips to Labour after being Tory for god knows how long. Now a Green councillor elected right in the middle of town!
Reposted by Andy Bruce (Reuters)
I never thought a comparison could be overly harsh on Stevenage. But here we are.
November 20, 2025 at 9:56 PM
I never thought a comparison could be overly harsh on Stevenage. But here we are.
Elon Musk is Stevenage
November 20, 2025 at 9:53 PM
Elon Musk is Stevenage
Reposted by Andy Bruce (Reuters)
Now that’s a lede.
Story by @taracopp.bsky.social and @michelleboorstein.bsky.social.
Read here: www.washingtonpost.com/national-sec...
Story by @taracopp.bsky.social and @michelleboorstein.bsky.social.
Read here: www.washingtonpost.com/national-sec...
November 20, 2025 at 6:39 PM
Now that’s a lede.
Story by @taracopp.bsky.social and @michelleboorstein.bsky.social.
Read here: www.washingtonpost.com/national-sec...
Story by @taracopp.bsky.social and @michelleboorstein.bsky.social.
Read here: www.washingtonpost.com/national-sec...
Andy Burnham on Clive Lewis offering his seat in Norwich:
"Well, I'm grateful for for the support, but I don't think you could bring forward a plan like the one I've announced today without being fully focused on my job in hand of being mayor of Greater Manchester. "
"Well, I'm grateful for for the support, but I don't think you could bring forward a plan like the one I've announced today without being fully focused on my job in hand of being mayor of Greater Manchester. "
November 20, 2025 at 4:39 PM
Andy Burnham on Clive Lewis offering his seat in Norwich:
"Well, I'm grateful for for the support, but I don't think you could bring forward a plan like the one I've announced today without being fully focused on my job in hand of being mayor of Greater Manchester. "
"Well, I'm grateful for for the support, but I don't think you could bring forward a plan like the one I've announced today without being fully focused on my job in hand of being mayor of Greater Manchester. "
UK manufacturers report sharpest drop in output since August 2020 - CBI
"What’s striking in this month’s survey is how consistently firms link the slowdown to uncertainty ahead of the Budget," says CBI economist Ben Jones.
www.reuters.com/world/uk/uk-...
"What’s striking in this month’s survey is how consistently firms link the slowdown to uncertainty ahead of the Budget," says CBI economist Ben Jones.
www.reuters.com/world/uk/uk-...
www.reuters.com
November 20, 2025 at 11:37 AM
UK manufacturers report sharpest drop in output since August 2020 - CBI
"What’s striking in this month’s survey is how consistently firms link the slowdown to uncertainty ahead of the Budget," says CBI economist Ben Jones.
www.reuters.com/world/uk/uk-...
"What’s striking in this month’s survey is how consistently firms link the slowdown to uncertainty ahead of the Budget," says CBI economist Ben Jones.
www.reuters.com/world/uk/uk-...
Reposted by Andy Bruce (Reuters)
New: Reuters has tallied job losses, suspensions and investigations stemming from the reaction to Charlie Kirk's Sept. 10 assassination. Its findings: More than 600 Americans have been punished, and the figure is likely to be an under-count.
www.reuters.com/investigatio...
www.reuters.com/investigatio...
November 19, 2025 at 11:35 AM
New: Reuters has tallied job losses, suspensions and investigations stemming from the reaction to Charlie Kirk's Sept. 10 assassination. Its findings: More than 600 Americans have been punished, and the figure is likely to be an under-count.
www.reuters.com/investigatio...
www.reuters.com/investigatio...
Quite the look at how the gilt market intersects with politics from @willdunn.bsky.social
www.newstatesman.com/business/eco...
www.newstatesman.com/business/eco...
November 19, 2025 at 3:44 PM
Quite the look at how the gilt market intersects with politics from @willdunn.bsky.social
www.newstatesman.com/business/eco...
www.newstatesman.com/business/eco...
Reposted by Andy Bruce (Reuters)
President Donald Trump's administration is close to implementing a rule that would end long-standing legal protections for whistleblowers among senior federal employees, according to documents reviewed by Reuters.
www.reuters.com/legal/govern...
www.reuters.com/legal/govern...
November 19, 2025 at 1:21 PM
President Donald Trump's administration is close to implementing a rule that would end long-standing legal protections for whistleblowers among senior federal employees, according to documents reviewed by Reuters.
www.reuters.com/legal/govern...
www.reuters.com/legal/govern...
Reposted by Andy Bruce (Reuters)
UK's Reeves says leaks about the upcoming budget 'not acceptable' reut.rs/4ibDvoz
UK's Reeves says leaks about the upcoming budget 'not acceptable'
British finance minister Rachel Reeves said on Wednesday that leaks about the budget were "not acceptable" after a report last week that she had abandoned plans to raise income tax sent bond prices tumbling.
reut.rs
November 19, 2025 at 10:25 AM
UK's Reeves says leaks about the upcoming budget 'not acceptable' reut.rs/4ibDvoz
Love how Matt Goodwin has given himself a stencil art profile pic, Che Guevara-style.
Am sure we'll be seeing this image sprayed in every town.
Am sure we'll be seeing this image sprayed in every town.
November 19, 2025 at 10:23 AM
Love how Matt Goodwin has given himself a stencil art profile pic, Che Guevara-style.
Am sure we'll be seeing this image sprayed in every town.
Am sure we'll be seeing this image sprayed in every town.
British government bond prices rose on Wednesday, helped by an unusual absence of pre-budget comms from people in the government.
And inflation data. That too.
And inflation data. That too.
November 19, 2025 at 10:13 AM
British government bond prices rose on Wednesday, helped by an unusual absence of pre-budget comms from people in the government.
And inflation data. That too.
And inflation data. That too.
Ok who made this reevesometer.co.uk
Reeves-o-Meter | Blow or Boost?
Tracking blows and boosts to Rachel Reeves, one headline at a time.
reevesometer.co.uk
November 19, 2025 at 9:53 AM
Ok who made this reevesometer.co.uk
Bit confused by the "inflation falls by less than expected" framing.
CPI came in bang on consensus in RTRS poll, and exactly as BoE expected. Obviously a poll elsewhere that said differently... but why go for the wrong one when you can pick and choose?
Not as interesting a story I guess!
CPI came in bang on consensus in RTRS poll, and exactly as BoE expected. Obviously a poll elsewhere that said differently... but why go for the wrong one when you can pick and choose?
Not as interesting a story I guess!
November 19, 2025 at 9:16 AM
Bit confused by the "inflation falls by less than expected" framing.
CPI came in bang on consensus in RTRS poll, and exactly as BoE expected. Obviously a poll elsewhere that said differently... but why go for the wrong one when you can pick and choose?
Not as interesting a story I guess!
CPI came in bang on consensus in RTRS poll, and exactly as BoE expected. Obviously a poll elsewhere that said differently... but why go for the wrong one when you can pick and choose?
Not as interesting a story I guess!
Have a weird feeling like someone is about to tell me I was actually watching a YouTube video of someone playing FIFA.
Did it actually happen!?
Did it actually happen!?
November 18, 2025 at 10:05 PM
Have a weird feeling like someone is about to tell me I was actually watching a YouTube video of someone playing FIFA.
Did it actually happen!?
Did it actually happen!?
That was quite good 🏴
November 18, 2025 at 8:00 PM
That was quite good 🏴