See this…10-year government bond yields rose immediately after I published on Aug. 31 this analysis of the Guardian’s reporting and the yields are moving generally higher since:
The 5.3% level is now under threat.
Trading Economics
The UK press and the bond vigilantes are in cahoots against any politician who stands up to corporate power.
I’m being a little simplistic of course.
Check these out.
Guardian above
See this bit:
“Burnham’s buckling on this issue is not a small matter. It cuts to the quick of what this country is and how it works. It has immense implications for democracy, for policy formation and for every other aspect of civic life. What it means is that the ultra-rich will continue to own our politics and our country. Succumb to the power of money and you will find yourself, like Starmer, tongue-tied and immobilised, unable to rise to any challenge that requires a confrontation with oligarchic might. In other words, get this wrong and every other wrong thing follows.
The official reason for Burnham’s U-turn is that trade unions objected: they have long channelled large sums into the Labour party. I doubt this is the real explanation; most of the donations Burnham received for his leadership campaign came from large private donors. Almost half was supplied by Lord Sainsbury, who was also a major funder of the Starmer project. Union money scarcely featured.”
Excerpt From
“Opinion | Andy Burnham has already made a mistake that will cost him his premiership: he lost his nerve over political donations”
George Monbiot
The Guardian
This material may be protected by copyright.
https://apple.news/AgEyhLKybRs2i4tKudLTrMQ
Yet if Monbiot is right ….the markets would not be reacting the way they are.
The markets are trying to keep Burnham in line.
They would not need to do this if Burnham is already cowed by corporate interests and billionaires.
Telegraph above
Bloomberg below
