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Britain’s Poorest Hit 30‑Year High as “Very Deep Poverty” Surges

                                                        A homeless man and his dog pictured in Edinburgh Britain is experiencing its highest level of “very deep poverty” in more than three decades, with millions of people now living on incomes far below what is needed for basic essentials. Recent analysis shows that around 6.8 million people fall into this category, meaning they survive on less than 40% of the national median income. While overall poverty rates have not dramatically increased, the severity of hardship has deepened. A growing share of those in poverty are now pushed into the most extreme levels of deprivation, struggling to afford essentials such as food, heating, and stable housing. Children are among the hardest hit, with millions growing up in households unable to meet basic needs. Minority ethnic comm...
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European Stocks Surge and Bond Yields Ease as Markets Scale Back Bets on Rate Cuts

 

European stocks surged to a fresh two-year high, and bond yields eased as markets scaled back ambitious bets at the end of 2023 on rate cuts by the Federal Reserve and other major central banks. The S&P 500 also edged higher, with the index poised to set a new record closing high, at the start of a week packed with big corporate earnings, European inflation data, Federal Reserve and Bank of England meetings and U.S. employment data.

The market is trying to understand the outlook for the U.S. economy as it is unlikely to require the deep interest rate cuts by the Fed it has priced in. Absent geopolitical shocks, the U.S. economy will grow better than expected with just a few areas underperforming.

The surge in European stocks and the easing of bond yields can be attributed to the markets scaling back their bets on rate cuts by the Federal Reserve and other major central banks.



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