A bullish inflection point for UK assets?
EWU•EWU•EWU•EWU•Economist Anatole Kaletsky said Prime Minister Andy Burnham’s speech could mark a bullish turning point for UK assets, citing openness to possible changes in fiscal policy, EU relations and electoral reform. The market reaction was subdued, with the proposals mainly promises for after the next general election, due before summer 2029.
British Prime Minister Andy Burnham’s speech could mark a turning point for UK assets, Gavekal chief economist Anatole Kaletsky said. He cited Burnham’s openness to possible U-turns in fiscal policy, EU relations and electoral reform, saying investors may prefer a government that confronts difficult issues.
Markets reacted only modestly, as the announcements were mainly promises to be implemented after the next general election, due before summer 2029. Burnham would first need to win, which current polling does not make a foregone conclusion. Finance minister John Healey is due to deliver his first budget in late October, balancing a growth agenda with bond-market concerns.
