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Andy Bruce (Reuters)

@bruceandy.bsky.social
7.6K followers 1.7K following 15K posts

Reuters Journalist of the Year 2025: 'Scoop of the Year' Senior correspondent, UK economy and north of England. ☀️ Stockport ☀️ 💬 Signal: bruce.369

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Reposted by Andy Bruce (Reuters)
Michael Derby @michaelsderby.bsky.social · 14h
Fed watchdog on HQ renovation that became Trump/Powell flashpoint: “At no point during ​our evaluation did we find reasonable grounds to believe that a violation of federal criminal law had occurred requiring a referral to the US attorney general."
reuters.com
Watchdog finds deficiencies but no Fed misconduct in Powell-era renovation project
The Federal Reserve's Inspector General on Wednesday said it found no grounds for a criminal referral or administrative misconduct tied to cost overruns in a US central bank renovation project that ha...
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Reposted by Andy Bruce (Reuters)
YouGov @yougov.co.uk · 29/09/2026
SNAP POLL / By 48% to 28%, Britons support Andy Burnham's proposal to change the triple lock in order to help fund part of a national care service yougov.com/en-gb/daily-... yougov.com/en-gb/daily-... yougov.com/en-gb/daily-...
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Andy Bruce (Reuters) @bruceandy.bsky.social · 30/09/2026
🥳 UK economy grew more than thought in the second quarter. • GDP +0.5% qq versus a previous estimate of +0.4% (same with GDP per head) • Strong business investment growth (see 👇) • Current account balance (exc. precious metals) smallest in 5 years at 1% of GDP thanks to services exports
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Andy Bruce (Reuters) @bruceandy.bsky.social · 29/09/2026
Anthropic is making a bet that AI will transform the global economy more profoundly than industrialization, electricity and the internet, according to its IPO prospectus seen by Reuters. ‌Anthropic reported a net loss of $42 billion in 2025, the prospectus said. www.reuters.com/business/fin...
reuters.com
EXCLUSIVE: Anthropic's IPO prospectus shows sweeping AI vision, surging costs
Anthropic is making a massive bet that AI will ​transform the global economy more profoundly than industrialization, electricity and the internet, according to its IPO prospectus seen by Reuters. The ...
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Andy Bruce (Reuters) @bruceandy.bsky.social · 28/09/2026
Healey's tie that Gordon Brown borrowed and signed in 1999
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Andy Bruce (Reuters) @bruceandy.bsky.social · 28/09/2026
Literally the only reference to the Budget in Healey's speech was in connection to fiscal discipline...
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Andy Bruce (Reuters) @bruceandy.bsky.social · 28/09/2026
Any Blue Sky peeps at Labour conference? I am very lonely
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Andy Bruce (Reuters) @bruceandy.bsky.social · 25/09/2026
A good look at the fiscal arithmetic ahead of the budget from TK Thoughts. I'm afraid I don't know who TK is but it's a Substack I've enjoyed reading over the past few years. substack.com/inbox/post/2...?
substack.com
A Look ahead to UK Budget 2026
How much Fiscal Space do they have?
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Andy Bruce (Reuters) @bruceandy.bsky.social · 25/09/2026
Andrew Bailey says BoE staff feed the MPC minutes into an LLM before they are published to see how it will land in the outside world. Bailey says he has doubts ("Hmm where are you going on this") but concedes it has been "very helpful".
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Reposted by Andy Bruce (Reuters)
Andy Bruce (Reuters) @bruceandy.bsky.social · 25/09/2026
October 2016
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Reposted by Andy Bruce (Reuters)
Simon Nixon @nixonsimon.bsky.social · 25/09/2026
Don't count on a circus of magic PuFINS to fly to Britain's economic rescue. My latest on how Labour's reforms to the fiscal rules were not the silver bullet some seem to hope they are - and may have made Britain's debt problems worse. First in a two-part series on Britain's wrecked balance sheet
nixons.substack.com
How Britain Wrecked its Balance Sheet
Four decades of consuming public wealth rather than building it has eroded Britain’s resilience and its long-term debt sustainability, leaving the country acutely vulnerable to deglobalisation
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Andy Bruce (Reuters) @bruceandy.bsky.social · 25/09/2026
October 2016
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Andy Bruce (Reuters) @bruceandy.bsky.social · 25/09/2026
UK consumer confidence has hit a more than two-year high, according to GfK, symbolised below by the purchase of mangoes. Another bit of generally positive sentiment data. YouGov/Cebr and LSEG/Ipsos surveys have also shown rising consumer morale this month. www.reuters.com/world/uk/uk-...
reuters.com
UK consumer confidence hits more than two-year high in September, GfK says
British consumer confidence unexpectedly struck a more than two-year high this month as households ​grew more optimistic about their personal finances, ‌according to a survey on Friday that added to r...
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Andy Bruce (Reuters) @bruceandy.bsky.social · 24/09/2026
Great to have an apocalypse version of Clegg's "but it'd take us until 2025 to get new nuclear plants!" clip banked for the decades ahead. I look forward to watching it on the ash heaps.
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Andy Bruce (Reuters) @bruceandy.bsky.social · 24/09/2026
Bank of England Deputy Governor Clare Lombardelli said on Thursday that interest rates will likely have to rise if energy ​prices stay elevated, unless there is clear evidence of a weaker economy. www.reuters.com/business/boe...
reuters.com
BoE's Lombardelli sees rates rising if energy prices stay high
Bank of England Deputy Governor Clare Lombardelli said on Thursday that interest rates will likely have to rise if energy ​prices stay elevated, unless there is clear evidence of a weaker economy.
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Andy Bruce (Reuters) @bruceandy.bsky.social · 24/09/2026
"If policy were to be set that the Chancellor should have a margin of safety, then immediately it becomes a requirement to have a margin of safety to make sure you don’t put the margin of safety at risk" @dsquareddigest.bsky.social channels Goodhart's Law substack.com/inbox/post/2...
substack.com
headroom on the headroom
office of budget irresponsibility, part 1
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Andy Bruce (Reuters) @bruceandy.bsky.social · 23/09/2026
I struggle to grasp exactly what Burnham means with this stuff, beyond vague "who elected the bond market?" frustration. Let's say the UK has left itself "over-exposed". But what were the choices that left it so? The Financial Crisis and COVID are big reasons so many gilts exist.
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Andy Bruce (Reuters) @bruceandy.bsky.social · 23/09/2026
What do Stockport, Rochdale and Oldham not have that the other boroughs of Manchester do?
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Andy Bruce (Reuters) @bruceandy.bsky.social · 23/09/2026
Main memories of the mini-budget: • although I was convinced it would go badly wrong I was still astonished by the ferocity of the market moves as Kwarteng spoke • Willem Buiter telling me it was "totally, totally nuts" (one of those gold-dust quotes for a story)
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Andy Bruce (Reuters) @bruceandy.bsky.social · 23/09/2026
Behold, the fiscal hourglass. Not to be used with handcuffs.
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Reposted by Andy Bruce (Reuters)
Giles Wilkes @gilesyb.bsky.social · 22/09/2026
I had a glance at today's Public Finance figures and was less alarmed than the BBC seemed to think I should be gileswilkes.substack.com/p/very-short...
gileswilkes.substack.com
very short one on what seems reassuring in the growth figures
where the growth really counts
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Reposted by Andy Bruce (Reuters)
Owen Winter @owenwntr.bsky.social · 22/09/2026
The latest Economist/YouGov poll has Trump's approval -28 and Democrats leading the generic ballot by 14 points among likely voters. If replicated in November it would be the biggest popular vote victory for either party since 1976
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Reposted by Andy Bruce (Reuters)
Michael Derby @michaelsderby.bsky.social · 22/09/2026
Trump's July financial disclosure is live. While serving as president he had time to trade nearly 1200 times in the market during July. extapps2.oge.gov/201/Presiden...
extapps2.oge.gov
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Andy Bruce (Reuters) @bruceandy.bsky.social · 22/09/2026
Bit of a move in global markets based on this Kyodo report english.kyodonews.net/articles/-/8...
english.kyodonews.net
Iran offers to reopen Hormuz strait within 7 days in push for diplomacy
Iran has offered to reopen the Strait of Hormuz within seven days if the United States takes initial steps toward easing military pressure, a senior Iranian government official told Kyodo News on Tues...
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Reposted by Andy Bruce (Reuters)
Cillian Sheehan @cillian-sheehan.bsky.social · 22/09/2026
Some tough news for John Healey this morning: August borrowing came in at £18.3bn – that’s up from £15.4bn a year ago and the second highest August on record. This shows why the Chancellor faces a tricky balancing act ahead for the Budget. Short thread…🧵
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Reposted by Andy Bruce (Reuters)
Reuters @reuters.com · 21/09/2026
Exclusive: President Trump's approval rating fell to 32% — the lowest of his political career — as fellow Republicans soured on his handling of the cost of living amid the unpopular Iran war, a new Reuters/Ipsos poll found reut.rs/3T10ZES
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Andy Bruce (Reuters) @bruceandy.bsky.social · 19/09/2026
Brilliant
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Reposted by Andy Bruce (Reuters)
Chaminda Jayanetti @cjayanetti.bsky.social · 18/09/2026
Labour’s savage disability benefit cuts could hit older people hardest, despite their reduced chances of finding work - a third of those potentially affected are aged 50+, according to FOI data Older disabled people face both labour market ableism and ageism By me, for @theleaduk.bsky.social
national.thelead.uk
Exclusive: Over a third of disabled people at risk from Labour’s benefit cuts are 50+
New figures obtained by The Lead show more than one third of people at risk from cuts to universal credit disability payments are over 50 – a group facing some of the highest barriers to finding work
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Andy Bruce (Reuters) @bruceandy.bsky.social · 18/09/2026
Special Report from @reuters.com: US election officials prepare for chaos as Trump seeks to tilt the midterms to Republicans www.reuters.com/investigatio...
reuters.com
Election officials prepare for chaos as Trump seeks to tilt the midterms to Republicans
U.S. state and local officials are taking extraordinary steps to protect voting systems, staff and public confidence amid growing signs that the president is trying to use federal power and fraud clai...
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Andy Bruce (Reuters) @bruceandy.bsky.social · 18/09/2026
If they're not careful, these thugs we will get another admonition from the prime minister's spokesman saying it's "appalling" and that they support the police.
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Reposted by Andy Bruce (Reuters)
John Oxley @joxley.jmoxley.co.uk · 18/09/2026
What on earth is happening?
  This had become the new normal. RNLI crew members had been forced to take their permits off their cars after their tyres have been repeatedly slashed. Most of them have been pilloried at the school gates or turned away from local pubs. One man who worked in search and rescue had been beaten unconscious and hospitalised, recognised for TV interviews he had done.
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Reposted by Andy Bruce (Reuters)
David Milliken @davidmilliken.bsky.social · 17/09/2026
Busy day at the Bank of England for @bruceandy.bsky.social and me. Three big takeaways: 1/ BoE sees inflation exceeding 4% early next year (in July it saw a 3.2% peak) 2/ Bailey says rate hike now "more likely" 3/ revamp of QT, including 6-month pause on gilt sales and end to 30-year gilt sales
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Andy Bruce (Reuters) @bruceandy.bsky.social · 17/09/2026
Bank of England to hold rates but energy shock stirs talk of a hike www.reuters.com/world/uk/ban...
reuters.com
Bank of England to hold rates but energy shock stirs talk of a hike
The Bank of England looks set to keep interest rates on hold on Thursday but investors are watching for any hint that surging energy prices could force it to follow the example of the U.S. Federal Res...
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Andy Bruce (Reuters) @bruceandy.bsky.social · 16/09/2026
Andy Haldane asserts that the "markets now suspect that this is a traditional tax and spend socialist government". Yes, gilt yields have risen loads - but there isn't a clear signal in the market that fiscal worries are behind it.
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Reposted by Andy Bruce (Reuters)
Centre for Cities @centreforcities.bsky.social · 16/09/2026
NEW | Fiscal devolution can give mayors stronger incentives to grow their economies without leaving places with smaller tax bases behind. Our new briefing sets out a revenue-neutral route to deliver £21.5bn of devolved taxes between now and 2030 👇 buff.ly/m6Ddr8S
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Andy Bruce (Reuters) @bruceandy.bsky.social · 15/09/2026
Andy Haldane - for it is he - calls for public spending to be slashed, as that would lower yields and thereby reap a “growth dividend”. From @lbc.co.uk
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Andy Bruce (Reuters) @bruceandy.bsky.social · 12/09/2026
We're all still trying to find the political party that allowed this to happen
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The Empty City @davidallengreen.bsky.social · 11/09/2026
NEW Why holding a placard is a terrorist act, while causing disruption in a balaclava is not The mess caused by ministers and the police not taking terrorism law seriously By me at @prospectmagazine.co.uk www.prospectmagazine.co.uk/ideas/law/th...

Recent events in England now reveal the practical difference between terrorists and protesters. It would seem that terrorists peacefully hold placards and get immediately arrested, while protesters wear black uniforms and balaclavas and disrupt infrastructure and do not get arrested.

How did we get into this mess? How have we placed ourselves in the position where terrorism legislation is used to detain and prosecute peaceful protesters, while those adopting the terror tactics of private armies seem to be free to do as they wish?

The reason is that for some time British politicians have not taken terrorism legislation seriously, and that ministers have got into the habit of misusing terror laws for easy targets.
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Andy Bruce (Reuters) @bruceandy.bsky.social · 11/09/2026
Bank of England survey of public shows marked fall in inflation expectations... although in truth it's hard to know what to make of it because of a change in survey provider.
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Andy Bruce (Reuters) @bruceandy.bsky.social · 11/09/2026
An early take on the horror of 9/11. A friend who still works for Reuters made that call to Cantor.
NEW YORK, Sept 11 (Reuters) - Two planes crashed into the towers of the World Trade Center in New York on Tuesday morning, causing huge explosions and killing at least six people, television said.

CNBC television said there were at least a thousand injured.

Both towers of the lower Manhattan landmark, where thousands of people work in offices and which was the scene of a bombing in 1993, were burning after the crashes.

The FBI told the Associated Press that it was "foul play" and not an accident, ABC television reported.

A person who answered the phone on the trading floor at interdealer-broker Cantor Fitzgerald, located near the top of the World Trade Center, said "We're fucking dying," when asked what was happening, and hung up. There was screaming and yelling in the background. A follow up call was not answered.

Nic Fulton, an eyewitness, said that just before the first explosion, he saw a plane fly low over his apartment in the Soho district of lower Manhattan.

"A plane flew incredibly low over my apartment. We've never seen a plane this low before," Fulton said.

He said it was a large, white plane with two jet engines, but he was not able to identify it further. "There's so much smoke coming out of the thing," he said.
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Andy Bruce (Reuters) @bruceandy.bsky.social · 11/09/2026
UK economy popped higher again in July - confounding expectations for a slowdown in growth. "Growing busting the consensus expectations again means we have to upgrade our description of the economy from resilient to showing some strength," reckons Pantheon Macro economist @robwoodecon.bsky.social.
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Andy Bruce (Reuters) @bruceandy.bsky.social · 10/09/2026
Welcome!
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Andy Bruce (Reuters) @bruceandy.bsky.social · 10/09/2026
I am the hearse now
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Andy Bruce (Reuters) @bruceandy.bsky.social · 10/09/2026
Hmm, I'm not sure it was "trust penalty" that Healey said in his growth speech this week😅
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Andy Bruce (Reuters) @bruceandy.bsky.social · 10/09/2026
Gilt yields griding a bit higher again after yesterday's sell-off. 10-year yield now highest since August 2007. Short-dated yields at new three-year highs.
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Andy Bruce (Reuters) @bruceandy.bsky.social · 09/09/2026
Gilt market report
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Tom Haddon @tomh-analyst.bsky.social · 09/09/2026
Brent crude vacillating either side of $100bbl and NBP gas pushing towards £2/th. Not much you can do on oil, but if I were the EU I'd totally bin gas storage targets right now (let spreads do the work if they need to). We're slowly creeping into a 2022-lite situation with distortions all over.
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Jonn Elledge @jonnelledge.bsky.social · 08/09/2026
On this, Star Trek's 60th birthday, I think we should remember the undoubted highlight of the franchise: Tom Paris breaking the speedlimit and thus transforming into some kind of sex lizard.
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Andy Bruce (Reuters) @bruceandy.bsky.social · 08/09/2026
Happy #StarTrekDay! 🖖 60 years old.
static.klipy.com
Q (John De Lancie) Trumpets Jean-Luc Picard
ALT: Q (John De Lancie) Trumpets Jean-Luc Picard
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David Milliken @davidmilliken.bsky.social · 08/09/2026
Britain sold £4.25 billion of 30-year bonds today which will pay an interest rate of more than 5.8%, the highest since 1998. (Long-dated debt like this makes up <10% of UK issuance, but more normal 10-year debt isn't much cheaper for the gov't with a yield of ~5.1%) www.reuters.com/business/uk-...
reuters.com
UK sells 30-year debt at record yield, showing pressure on public finances
Britain sold £4.25 billion ($5.75 billion) of 30-year ​bonds on Tuesday with the highest yield since comparable records began in 1998, as rising global borrowing costs cast ‌a shadow over new finance ...
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