Short biographical note for a current affairs entry
The US and Iran have traded intensive strikes this week after Iranian attacks on commercial ships in the Strait of Hormuz. President Donald Trump has declared the interim ceasefire "over," revoked a temporary oil waiver and ordered further strikes while mediators are still pursuing talks. Oil prices and global markets have reacted to renewed fighting and sanctions moves.
The leadership race has intensified as Andy Burnham is seen as the frontrunner to become prime minister, with markets seeking stability. Economists warn that the next chancellor will shape bond markets and fiscal policy, while Burnham pledges to follow fiscal rules and reduce bills. The City remains anxious about potential changes in taxation and public spending.
Markets are stabilising after a stretch of high activity in tech options, with traders shifting focus as implied volatility cools. Small caps are leading potential next moves, while global equities reflect a policy-led, carry-friendly regime.