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
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 🏴
Exclusive: Trump approval falls to lowest of his term over prices and Epstein files, Reuters/Ipsos poll finds - www.reuters.com/world/us/tru...
www.reuters.com
November 18, 2025 at 8:00 PM
Exclusive: Trump approval falls to lowest of his term over prices and Epstein files, Reuters/Ipsos poll finds - www.reuters.com/world/us/tru...
Reposted by Andy Bruce (Reuters)
For the unfamiliar: industrious young midfielder, not respected by Man Utd and many fans, sold for a quick profit to Napoli, becomes complete hero to the Italians, scoring key goals and winning the league, starts as a *striker* in crucial Scotland game this evening, scores overhead kick 4 mins in!🤪
McTominay WT absolute F??!
Utd must feel like the biggest idiots in football. Ever.
Utd must feel like the biggest idiots in football. Ever.
November 18, 2025 at 7:59 PM
For the unfamiliar: industrious young midfielder, not respected by Man Utd and many fans, sold for a quick profit to Napoli, becomes complete hero to the Italians, scoring key goals and winning the league, starts as a *striker* in crucial Scotland game this evening, scores overhead kick 4 mins in!🤪
Reposted by Andy Bruce (Reuters)
I'm reading through the white paper or whatever it is. RESTORING ORDER AND CONTROL: A statement on the government’s asylum and returns policy www.gov.uk/government/p...
Asylum and returns policy statement
This policy statement sets out significant reforms to the UK’s asylum and returns policy.
www.gov.uk
November 17, 2025 at 3:48 PM
I'm reading through the white paper or whatever it is. RESTORING ORDER AND CONTROL: A statement on the government’s asylum and returns policy www.gov.uk/government/p...
Interesting read - not just on this (very odd) building but on the climate nightmare of building skyscrapers more generally.
Strictly speaking, it's not a façade that's cracking up at 432 Park Ave. in NYC; it's a "load-bearing, concrete exoskeleton." This makes the problem much harder to fix. The engineers called it back in 2012, but hubris and vanity overruled them. lloydalter.substack.com/p/schadenfre...
SchadenfreudeTower in New York City is cracking up
The problems at 432 Park Avenue never end.
lloydalter.substack.com
November 17, 2025 at 9:41 PM
Interesting read - not just on this (very odd) building but on the climate nightmare of building skyscrapers more generally.
Reposted by Andy Bruce (Reuters)
Fed chair short-lister Warsh in WSJ op-ed explains why he's not worried about future inflation: "AI will be a significant disinflationary force, increasing productivity and bolstering American competitiveness. Productivity improvements should drive significant increases in real take-home wages."
November 17, 2025 at 3:04 PM
Fed chair short-lister Warsh in WSJ op-ed explains why he's not worried about future inflation: "AI will be a significant disinflationary force, increasing productivity and bolstering American competitiveness. Productivity improvements should drive significant increases in real take-home wages."
💥AXA Investment Managers cuts exposure to UK bonds in some portfolios following news that the government has no plans to raise income tax, a senior fund manager told Reuters on Monday.
www.reuters.com/sustainabili...
www.reuters.com/sustainabili...
www.reuters.com
November 17, 2025 at 2:11 PM
💥AXA Investment Managers cuts exposure to UK bonds in some portfolios following news that the government has no plans to raise income tax, a senior fund manager told Reuters on Monday.
www.reuters.com/sustainabili...
www.reuters.com/sustainabili...
Reposted by Andy Bruce (Reuters)
That the tax pledge has already been broken - in both spirit and letter, given how it was drafted! - is weirdly overlooked
also it's too clever (or stupid) by half - hardly anyone thinks Labour has stuck to its promises *because it hasn't*. Raising employers NI broke a manifesto promise! Scrapping Dilnot, while barely noticed, also broke a manifesto promise. And winter fuel was seen that way too
bsky.app/profile/cjte...
bsky.app/profile/cjte...
I like the briefing that "Morgan thinks that you shouldn't break promises to recapture trust", because the public didn't think you were promising to improve public services?
November 17, 2025 at 12:15 PM
That the tax pledge has already been broken - in both spirit and letter, given how it was drafted! - is weirdly overlooked