Manchester Mayor Cancels Investor Call Amid Political Uncertainty
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 03 2026
0mins
Source: CNBC
- Increased Policy Uncertainty: Manchester Mayor Andy Burnham abruptly canceled a call intended to reassure investors, highlighting his ambiguous stance on future policies, which may trigger market concerns, especially as he plans to challenge incumbent Prime Minister Keir Starmer.
- High Borrowing Costs: The UK's long-term gilt yields have surpassed 5%, the highest in the G7, with expectations of Burnham's left-leaning policies potentially exacerbating market worries about fiscal risks amid sluggish economic growth and rising debt-to-GDP ratios.
- Delayed Market Reaction: Financial services firm Ebury suggests that markets are underestimating the risks associated with a Burnham victory in the Makerfield by-election, predicting that his election would lead to a rapid repricing of UK fiscal risks, particularly given his calls for nationalization and strong regulation of Big Tech.
- Investor Anxiety Heightened: Burnham is viewed as a proxy for investor anxiety regarding UK debt and borrowing, and despite his recent efforts to reassure markets by backing fiscal rules, the market's cautious response indicates a high-risk premium for political uncertainty rather than a definitive judgment on future policies.
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About ING
ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company's segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease. The Company's Retail Banking business lines provide products and services to individuals, small and medium-sized enterprises (SMEs) and mid-corporates. ING's banking activities in Australia are undertaken by ING Bank (Australia) Limited (trading as ING Direct) and ING Bank NV Sydney Branch.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- High Borrowing Costs: The UK's long-term gilt yields have surpassed 5%, the highest in the G7, with expectations of Burnham's left-leaning policies potentially exacerbating market worries about fiscal risks amid sluggish economic growth and rising debt-to-GDP ratios.
- Delayed Market Reaction: Financial services firm Ebury suggests that markets are underestimating the risks associated with a Burnham victory in the Makerfield by-election, predicting that his election would lead to a rapid repricing of UK fiscal risks, particularly given his calls for nationalization and strong regulation of Big Tech.
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- Yield Fluctuations: The 10-year U.S. Treasury yield remained flat at 4.457%, while the 2-year Treasury yield rose to 4.189%, reflecting heightened tension in short-term interest rate policies that could affect borrowing costs and market liquidity for investors.
- Potential Rate Hikes: Warsh abstained from submitting a rate forecast during the meeting but clearly indicated that the Fed is prepared to tackle inflation issues, suggesting possible future rate hikes that could influence market expectations regarding monetary policy.
- Market Reaction Shift: Analysts noted that Warsh's first address signaled a return to a scenario where the Fed reacts to market conditions, potentially leading to increased market sensitivity to Fed policies, which could impact investor decisions and market trends.
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- Financial Impact: ING stated that the transaction is not expected to materially affect its profit and loss account, shareholders' equity, or capital ratios, demonstrating a prudent financial strategy during equity adjustments.
- Market Reaction: In pre-market trading on the NYSE, ING shares rose by 0.84% to $29.93, reflecting a positive market response to the transaction, despite its limited overall impact.
- Background Information: ING acquired its stake following the merger of TMB Bank and Thanachart Bank, and this reduction may be aimed at optimizing its investment portfolio and enhancing capital efficiency.
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- High Borrowing Costs: The UK's long-term gilt yields have surpassed 5%, the highest in the G7, with expectations of Burnham's left-leaning policies potentially exacerbating market worries about fiscal risks amid sluggish economic growth and rising debt-to-GDP ratios.
- Delayed Market Reaction: Financial services firm Ebury suggests that markets are underestimating the risks associated with a Burnham victory in the Makerfield by-election, predicting that his election would lead to a rapid repricing of UK fiscal risks, particularly given his calls for nationalization and strong regulation of Big Tech.
- Investor Anxiety Heightened: Burnham is viewed as a proxy for investor anxiety regarding UK debt and borrowing, and despite his recent efforts to reassure markets by backing fiscal rules, the market's cautious response indicates a high-risk premium for political uncertainty rather than a definitive judgment on future policies.
See More
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- Energy Price Impact: Energy costs represented the highest annual inflation rate in May, slightly up from 10.8% in the previous month, highlighting the ongoing economic impact of elevated oil and gas prices due to the U.S.-Iran conflict.
- Market Reaction: Markets are pricing in a 94% chance of a 25 basis point rate hike by the ECB, reflecting heightened investor expectations for tighter monetary policy, which could influence the euro's exchange rate and bond yields.
- Inflation Disparities: Germany's inflation rate fell to 2.7% in May, while Greece and Lithuania saw rates exceed 5%, indicating uneven economic recovery within the euro zone, which may complicate policy-making decisions.
See More
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- Convenient Transportation: Located along US Route 1, Alexandria Crossing is just 0.8 miles from the Huntington Metro Station and adjacent to a future Bus Rapid Transit stop, significantly improving commuting conditions for residents and likely drawing more professionals to the area.
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