david thorpe
@dthorpejourno
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journalist at financial times group. Business. People. Asset Management
London, England
Joined July 2017
Do technical factors mean credit spreads should be even tighter?.. https://t.co/DXMj3n4Wlr
ftadviser.com
Changes in the composition of debt markets since the global financial crisis and the pandemic mean that corporate bond spreads, while tight relative to history, could arguably be tighter, according...
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My @FTAdviser Vantage Point long-read today asks whether gilts are still a good investment post-budget... https://t.co/zwx4kSjblK
ftadviser.com
Investors in UK gilts face a range of different challenges as markets react to changes in inflation, interest rate outlooks and risk appetites. But the recent Budget may have offered a modicum of...
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From @johnauthers’ daily note: “Remarkably, and counter to decades of prior experience, the average inflation rate in emerging economies is now slightly lower than in the developed world, where price rises have started to accelerate again.” #economy #markets #em #EmergingMarkets
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Schroder's Value Equity team have had several high profile departures, including of fund managers Kevin Murphy and Nick Kirrage, here is @ftadviser's exclusive interview with new team head Simon Adler discussing how the £12,8bn of aum team is evolving... https://t.co/9EAtF2bWDO
ftadviser.com
Schroders giant value equities department has hit the headlines in recent years for a number of high-profile staff departures, but Simon Adler, the latest person to head the team, said his aim is to...
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FT Adviser is launching a survey with the Personal Finance Society to understand adviser attitudes towards internships, as part of the Society’s Pathways to the Profession initiative. https://t.co/yaQaW5nzn8
ftadviser.com
FT Adviser has launched a survey with the Personal Finance Society to understand adviser attitudes towards internships, and we are calling on advisers to share their views, as part of the Society’s...
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Final S&P Global UK PMI Composite Output Index 51.2 in November, down from 52.2 in October. This was at least an upward revision from the flash estimate (50.5), but the average of around 51 over the past 12 months is consistent with quarterly GDP growth of just 0.2% - at best 👇
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VW loses a million China sales in a blink of an eye. What happens next? Nicht gut. https://t.co/g0WT60JDWE
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The PM keeps repeating the figure £16bn in relation to the OBR's latest forecasts - giving the impression that this would have left a big hole in the public finances. What he fails to acknowledge is that that this is LITERALLY ONLY ONE PART OF THE STORY. Here's why...
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This is something I know to be true but find almost impossible to believe - that New York gets about 2x more rain than London. It know NYC has heavier storms, but I'm amazed that the difference is so large in aggregate.
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I've finally had a chance to review the NBER 'working paper' which claims that Brexit has already reduced UK GDP by 8% since the vote to leave in 2016... 🤔 At first sight, this figure fails a simple 'smell test'. A closer look confirms that the analysis is flawed... 🧵
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This chart in the FT shows that “Once the world’s factory, Beijing’s relentless focus on R&D means the country has become the world’s laboratory”. Discover more interesting charts on economics and geo-politics in today's Chartbook Top Links in the comment below.
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BofA: Hyperscalers are now more capital-intensive than the oil majors
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Ditto @Frencheconomics … arbitrary increases in relative minimum wages that do not reflect genuine improvements in labour quality (productivity) will produce: 1) reduced demand for said labour; 2) capital misallocation to compensate for cost-push wage increases; 3) higher
Complete nonsense. The national minimum wage was 48% of the median in 2015 (in line with the OECD average), & is 66% today (15ppt above the OECD average). Almost exactly the period over which per capita GDP began decoupling from trend/ the US. We are embedding regulated prices in
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The Budget is fast unravelling, revealing the breathtaking serial dishonesty of the Starmer-Reeves government. In her Budget speech Reeves boasted that she was introducing a “new golden era for hospitality” as she outlined “permanently lower tax rates for over 750,000 retail,
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Interesting. When @RachelReevesMP gave "that" press conference in Downing St earlier this month she put the @OBR_UK and its forecasts front and centre as the explanation for why "difficult decisions" (eg tax rises) were necessary. Yet today we learn, from the chronology sent
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The OBR has - of course - in effect confirmed that Rachel Reeves’s decision not to increase the basic rate of income tax had zilch to do with any late-arriving new information about higher tax revenues - which was what was briefed to the media at the time of the u-turn as the
The OBR has now published what the Chancellor and Treasury knew and when - in a letter to the Treasury Select Committee - about whether she would hit her fiscal targets. As you can see from the attached table, there was never a huge black hole from the productivity downgrade,
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Days like this, that's when I'm really proud of my profession
🚨 NEW: The OBR has set out the terms for its investigation into the early Budget forecast release It's understood that the link wasn't visible on the site, but journalists reached it by simply replacing "March" to "November" in the link of the OBR's last forecast
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This FT graph showing the student loans threshold and the minimum wage converging is quite the thing.
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A sobering chart from Martin Wolf (below). The gap between UK borrowing costs and other advanced economies isn't just persisting—it’s widening: A stark reminder of the "UK premium" currently baked into markets. This isn't just about debt service costs eating into the budget at a
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Emigration by British and EU citizens is flat (or even slightly down); the large rise in emigration is entirely driven by non-EU citizens leaving.
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