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Economists gathered in Kilkenny, Ireland, for the annual Kilkenomics festival, sharing stories and humor about economics in local pubs. The podcast recorded live at Cleere's Bar & Theatre features discussions with financial historian Russell Napier and Buenos Aires senator Martín Lousteau, focusing on financial mistakes and political anger, particularly in France.
President-elect Donald Trump has not asked former US Trade Representative Robert Lighthizer to return to lead trade policy in his new administration, despite earlier reports suggesting otherwise. Sources close to the situation have labeled those claims as "untrue." Lighthizer, a seasoned trade lawyer, has been advising Trump's 2024 campaign.
The Mexican peso is experiencing a decline amid concerns that President-elect Donald Trump will pursue a trade protectionist agenda in the US. The currency's losses intensified following an unconfirmed report suggesting Robert Lighthizer may be appointed as US Trade Representative, raising fears of potential tariffs.
Ahead of the US Presidential election, a sell-off in US Treasuries has triggered global market fluctuations, with the 10-year yield surpassing 4.2% for the first time since July. Despite a recent half-percentage point cut by the Federal Reserve, investors are reassessing their positions, leading to increased volatility as the bond market braces for key economic data and events. The ICE BofA Move Index, which measures expected swings in Treasuries, has reached its highest level this year.
UK Chancellor of the Exchequer Rachel Reeves announced plans to adjust fiscal rules to permit increased borrowing for investment, aiming to stimulate economic growth. She emphasized that these changes would prevent declines in public sector investment that were anticipated under the previous administration.
The UK government has announced £63 billion in investments during the International Investment Summit, reinforcing its pro-business stance ahead of the autumn budget. Inflation fell to 1.7% in September, while retail sales reached a record high since July 2022. The Treasury anticipates a £40 billion budgetary effort, with unemployment at 4.0% and significant regional disparities in labor market statistics.
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