Shrinks, but it doesnt set the u. K. Up for a good spot Going Forward. We are seeing the relationship between fiscal and Monetary Policy really evolve the u. K. We will break that down over the next few hours. You are seeing bond markets bid across the board, as we are koff develop. We want to kick it off with Michael Mckee. Theld central bank mike,entral banks if i say mmt, am i wrong . Anyway. Yeah, [laughter] its confusing, though, what is going on with the economic philosophy called mmt. Yes, it is unlimited cash in unlimited amounts for unlimited periods of time until we get through this. Youre still going to work your tail off today before we get to 4 00 p. M. Lets start in london come over the bank of england is going to finance Government Spending for the time being by lending money directly to the treasury. It is called the ways and means facility, a shortterm credit the last used during great financial crisis. Government and the bank say any borrowing will be repaid by the en
Serious injury as it was protected by its cot. Matthew murray reports from the scene. It was just after 10 30 last night that the car came off this road. Its skid marks around about 50 to 60 metress away. Because it came off the road and then rolled around about three times before it ended up back on its wheels. But it did actually roll over this tent, which had a baby inside it who was in its cot. And thats the only reason the baby survived. Now, lets speak to the owner of the campsite here now, mike harris from newgale campsite. Mike, you know, you came here last night and it was absolute carnage when you arrived, wasnt it . Absolutely, yeah. There was no Emergency Services at the time because we were on the scene immediately. But there was carnage. There were people bewildered, people in shock, people who didnt know what was going on. And there were people that were injured, screaming and asking for help. Its hard to believe that actually nobody was killed in this because we just ex
Hawaiis Attorney General has announced an investigation into why the islands Warning Siren didnt sound at the height of the emergency. Questions are also being asked about whether power to the island should have been cut. For more, heres our correspondent in hawaii, sophie long. This is what remains of lahaina. Cars abandoned as people ran and jumped into the sea to escape the flames. Homes and businesses reduced to charred remains. President biden promised immediate help and said every available asset should be used to provide it, but, days later, people here say its not yet reaching those most in need and people like felicia are desperately trying to get supplies into lahaina themselves. Im frustrated. People are. Were all together. Were one family, we need to take care of each other. No ones feeding everyone. Theyre traumatised. Theyre upset. No ones giving hugs. They need mental help. What do you need from me . To hear people in the same pants since the fire on thursday. Kids in th
This morning, good morning. This is bloomberg surveillance on tv and radio. All about the bond market out there allowing the u. S. Downgrade. Some half decent jobs data and the treasury announcing a ton of supply. Yields of every single day this week. This could the board of if we can on the bond market. 10year u. K. , japan, and germany. Higher by six basis points. I wouldnt call it dramatic. Lisa it is not dramatic, the slow bleed upward has gotten new focus as we reached levels that we havent reached going back to last november. You could talk about fitch and the downgrade yesterday but a lot of people view that as an excuse to catalyze the fears of the fiscal overhang of the new borrowing schematic from the u. S. Treasury department which is bigger than people expected. This general concern that if the economy is going to recover, maybe you get a soft landing, maybe no landing. Jonathan excuse to sell or a reason to sell . Lisa it was an excuse to sell for people who werent necessa