Wednesday 9 July 2025
The Mighty Headlines
Economics: UK faces £22 billion increase to debt interest
Business and markets: Stock markets ignore US tariff threats
Foreign Affairs: Canada arrests four people on alleged terrorism offences
Security and intelligence: Russia relying on Chinese tech for drones
Domestic politics: Official report says UK public finances are “vulnerable”
The Mighty Stats
FTSE = 8,854.18 (up 0.54%)
S&P 500 = 6,225.52 (down 0.072%)
Nasdaq = 20,418.46 (up 0.029%)
CAC40 = 7,766.71 (up 0.056%)
£1 = $1.36 / €1.16
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The Mighty Detail
Economics: The UK is at risk of facing a £22 billion rise in its debt interest. This is because UK pension funds are buying fewer Government bonds which causes bond prices to fall and bond yields to rise. It also means that the UK Government will need more foreign investors to buy its debt.
Business and markets: The financial markets in Asia, Europe and the US broadly ended Tuesday in positive territory. This is despite fresh pressure from the US on tariffs. It is being reported that traders are taking tariff announcements from the US administration less seriously as the deadline for imposing them is repeatedly pushed back. The new US tariff deadline has moved from the 9th July (today) to the 1st August.
Foreign Affairs: The Canadian police has charged four people, including members of the military, for alleged terror offences. The group is accused of organising an anti-government militia in Quebec and is reported to have gathered 16 explosive devices, 83 firearms and accessories, and around 11,000 rounds of ammunition.
Security and intelligence: There are reports that Russia is relying on Chinese companies for drone technology and manufacturing capabilities. The news comes as President Trump said yesterday that he would ship more weapons to Ukraine and that he was “disappointed” that President Putin “has not stopped”.
Domestic politics: The UK’s independent Office for Budget Responsibility has warned that the country’s public finances are in a “vulnerable” state. It claims that rising defence, health and welfare spending is leading to higher borrowing and that global trade tensions are impacting UK GDP.
The Mighty Calendar
What’s happening today?
Banquet at London’s Guildhall for President Macron
Taiwan holds Han Kuang drills simulating a Chinese attack
China inflation data (June)
Lookahead to tomorrow
UK Prime Minister and French President host Franco-British summit
Italy hosts the Ukraine Recovery Conference
Vote of no-confidence expected in the European Commission President in the European Parliament
US initial jobless claims (weekly)
Company results from: Delta Airlines
The Mighty Finale
🌤️Weather today
Sunny spells across most of England but cloudy in the northwest. High of 27C and low of 16C in London. Cloudy in Belfast. Sunny spells in Edinburgh.
✏️Life coaching quote of the day
“When you think you are too old to do something new, remember you will never be younger than you are right now.” – James Clear, writer
Mighty takeaway: Age is no barrier to what you want to do!
That’s it for this morning. Thanks for reading!
Adios!
The Mighty Memo team