Merryn Talks Money
Plunging UK Markets, What's Reeves Moment, and the ESG Rollback
Jan 8, 2025
In this engaging conversation, John Stepek, author of the Money Distilled newsletter and keen observer of market trends, dives headfirst into the UK’s financial turmoil. He discusses the plummeting value of sterling and UK gilt prices, while shedding light on the pressures facing Rachel Reeves and the Treasury due to rising borrowing costs. Stepek also critiques the recent rollback on ESG initiatives among major banks, highlighting the implications of these shifts in compliance culture for the financial services sector.
13:22
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Quick takeaways
- Market anxiety is rising due to tumbling sterling and gilt prices, compounded by soaring borrowing costs affecting the Treasury's decisions.
- The rollback on ESG measures highlights a significant shift in corporate priorities as companies navigate increased scrutiny and financial pressures.
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