{"id":45842,"date":"2019-08-15T06:50:04","date_gmt":"2019-08-15T05:50:04","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=45842"},"modified":"2019-08-15T06:50:04","modified_gmt":"2019-08-15T05:50:04","slug":"its-time-for-a-brexit-recession","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2019\/08\/15\/its-time-for-a-brexit-recession\/","title":{"rendered":"It&#8217;s time for a Brexit recession"},"content":{"rendered":"<p>The <a href=\"https:\/\/www.ft.com\/content\/95c4362e-be79-11e9-b350-db00d509634e?emailId=5d5466525b7b7c0004258fe2&amp;segmentId=3d08be62-315f-7330-5bbd-af33dc531acb\" target=\"_blank\" rel=\"noopener\">FT reported<\/a> last night that:<\/p>\n<blockquote><p>US equities fell 3 per cent on Wednesday after disappointing data from China and Germany increased fears over global growth and bond markets signalled the chances of a recession were mounting.<\/p>\n<p>The S&amp;P 500 index finished down 2.9 per cent at its low point for the day, with energy stocks leading the declines, closely followed by financials. The tech-heavy Nasdaq was down just over 3 per cent.<\/p>\n<p>Underscoring the rising concerns, the yields of US and UK 10-year government bond yields dipped below those of shorter-maturity debt for the first time since the financial crisis \u2013 an inversion of their normal relationship that has historically been a harbinger of recession and which crimps banks\u2019 profitability.<\/p><\/blockquote>\n<p>Perfect timing for Brexit.<\/p>\n<p>And I'd stress, I have little doubt Brexit has not helped this trend, but equally I'd say it's just one of a number of factors created by populist politicians intent on wrecking economies for their own ends, led by those in the UK and US.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The FT reported last night that: US equities fell 3 per cent on Wednesday after disappointing data from China and Germany increased fears over global<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2019\/08\/15\/its-time-for-a-brexit-recession\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-45842","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/45842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=45842"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/45842\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=45842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=45842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=45842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}