Heather Stewart

For all the technical detail, the politics of this statement is very interesting. It shows us just how keen the govt is to get the SPS deal done: a) by unfussily committing to align with the vast majority of EU regs and b) by clearly telling businesses to get ready to adapt.

As a result, stablecoins have grown to $300 billion in market value from roughly $20 billion in 2020. The Federal Reserve estimates they could be worth $3 trillion in five years. Because stablecoins use Treasuries as the primary collateral to create this cashlike safety, cryptocurrencies have effectively flooded into the Treasury market, the central artery of the U.S.-led global financial network. Stablecoin-issuing companies, like Circle and Tether, now hold more Treasury debt than major U.S. government creditors like Saudi Arabia and South Korea. Some experts fear that the next crypto crash could cascade into major losses for the highly sensitive short-term U.S. debt markets in which Treasuries predominate. The open question for regulators, bankers and the Trump administration is whether the growing centrality of the coins carries more upside or downside risks.

What could possibly go wrong?

NYT: A Crypto Coin Is Gobbling Up U.S. Treasuries

www.nytimes.com/2026/03/08/b...

WTI Oil price

Brent Oil price

a casual 20% reversal in oil since the $120 peaks early hours of the morning, back down comfortably under $100 for both WTI and Brent. coupled with a pullback in bond yields everywhere, and equities are also managing to stage a recovery. not feeling hugely convinced myself that this is sustainable ?

Trump: Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace. ONLY FOOLS WOULD THINK DIFFERENTLY!President DJT 7 ReTruths 36 Likes 3/8/26, 3:54 PM

Trump has a new post about oil prices.

“…a very small price to pay for U.S.A., and World, Safety and Peace.”

Yes, but unlike with tariffs, he cannot simply renege and have the problem dissipate.

😬

UK must be prepared for a price shock from the Iran war | Heather Stewart Governments are having to wake up to the fact they will have to take a closer interest in supply chains for essentials

This week’s column - here we go again with another cost shock; as they become more common, given fractured geopolitics + climate crisis, we’re going to have to find new approaches besides whacking up interest rates:
www.theguardian.com/business/202...

Last saw TB sitting in the front row while Trump launched his “Board of Peace” in Davos, so yeah, that figures.

It's only Regime Change if it comes from the NeoCon region of Washington. Otherwise it's Sparkling Restructuring.

Sorry what now?

NEW ANALYSIS: UK emissions fell 2.4% in 2025 as coal fell to a 400-year low. Incredibly, we used less coal last year than than in 1600, when Queen Elizabeth I was on the throne and Shakespeare was writing Hamlet.

All the details in our article: www.carbonbrief.org/...

Globalisation is under threat from Iran war – and Britain is uniquely vulnerable Economic ripples from US-Israel attacks will soon become waves, engulfing everything from energy prices to food

Great piece this from @meadwaj about the UK's particular vulnerability in a highly interconnected, volatile global economy: www.theguardian.com/world/2026/m...

People who are not tax resident in the UK should not be allowed to donate to UK political parties.

Companies should not be allowed to donate to UK political parties.

No one should be allowed to use crypto to donate to UK political parties.

Screenshot of Financial Times: "Middle East war | Wealthy Dubai residents race back to UAE to avoid tax bills Some risk spending too few days in the emirate and too many in the UK" Illustration: stock photo of man in white shirt speaking on mobile phone while waiting to cross road in front of skyscrapers

Life's all about priorities.

Argh that just sounds like a way of torturing the parents!

Yes! Was just having a gleeful little smile to myself at the fact my youngest is now in y7 so WBD is no more

chart showing Average real household disposable income per person (2025-26 prices): UK

The Treasury says “by the next election people will be over £1,000 a year better off”.

This appears to be based on a comparison of RHDI per person in the final full financial year of the previous and current parliaments.

But two-thirds of this projected growth *has already happened*.

4h • "It's up to people what they get up to behind closed doors," local barber Ben Dicks said. A newly-opened adult members' club in a Leicestershire village has been temporarily closed down by council officials following complaints from residents - but not everyone is unhappy about it. Read more: https://bbc.in/46CDjtW Council temporarily shuts down adult members' club.

Laughing at someone’s name who is being quoted in a story about an “adult club” is neither big nor clever. Yet here we are.

I appreciate I make this joke a lot, but "the police have issued a solemn apology, and would like to reiterate their ambition to arrest more criminals than they employ."

Yeah ok mate

Democracy Volunteers ‘Family Voting’ and how to prevent it in Future Elections Democracy Volunteers has been observing elections in the UK for 10 years. We have seen ‘family voting’ across the UK and we think it is important to explain more about it and how it should be possi…

I've been asking Democracy Volunteers, the organisation who said they saw family voting in the Gorton and Denton by-election, if they would give details about evidence or methodology. They have now released an updated statement - which is still quite vague.

democracyvolunteers.org/family-votin...

Here’s why the Treasury is apparently sceptical about bringing forward the 3% of GDP defence pledge to 2030 - it obliterates spending increases on everything else (unless you’re raising more money to fund it…)

Striking chart from @theifs.bsky.social of the differential increase in the cost of hiring younger workers - with and without implementing the manifesto promise of equalising the NMW for 18-20 year olds:

Enjoying this live Treasury/IFS debate...

Good [scary] thread about why warnings about the econ impact of the Iran situation are not the same as dire predictions about tariffs/Brexit:

Agree with this: bits of the speech felt as though they'd been written pre Middle East war - the claim that people will be £1000 a year better off similarly seemed a hostage to fortune...

Private Eye cover with photos of Trump in his “war room” suggesting the Iranian offensive was to distract from the Epstein files

Ah, Private Eye Day…

Guys, the Italian unemployment rate has just fallen below the UK's.

This is a lovely timeline cleanse for a foggy morning 🏴󠁧󠁢󠁳󠁣󠁴󠁿

Bloody hell