{"id":56485,"date":"2025-11-26T10:08:34","date_gmt":"2025-11-26T14:08:34","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/global-markets-react-to-uk-fiscal-plans-us-economic-data-and-china-property-woes\/56485\/"},"modified":"2025-11-26T10:08:34","modified_gmt":"2025-11-26T14:08:34","slug":"global-markets-react-to-uk-fiscal-plans-us-economic-data-and-china-property-woes","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-react-to-uk-fiscal-plans-us-economic-data-and-china-property-woes\/56485\/","title":{"rendered":"Global Markets React to UK Fiscal Plans, US Economic Data, and China Property Woes"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li>The <strong>UK Debt Management Office (DMO)<\/strong> announced plans for <strong>\u00a3303.7 billion<\/strong> in gross gilt issuance for 2025\/26, an increase from previous estimates, with a notable shift in the composition of gilt sales.<\/li>\n<li>US economic data revealed <em>initial jobless claims<\/em> fell to <strong>216,000<\/strong> for the week ending November 22, while <em>durable goods orders<\/em> rose by <strong>0.5%<\/strong> in September, exceeding expectations.<\/li>\n<li><strong>China Vanke<\/strong> is proposing to extend <strong>2 billion yuan<\/strong> in bonds maturing on December 15, highlighting continued liquidity pressures in China&#39;s property sector.<\/li>\n<li>UK Chancellor Rachel Reeves outlined a <strong>\u00a3150 cut<\/strong> to average household energy bills from April and detailed various tax reforms, including changes to Capital Gains Tax and increased grants for electric cars.<\/li>\n<li>The U.S. is moving to terminate <strong>Temporary Protected Status (TPS)<\/strong> for Haitian nationals, effective September 2, 2025, a decision published in the Federal Register.<\/li>\n<\/ul>\n<h3>UK Fiscal Policy and Debt Management<\/h3>\n<p>The <strong>UK Debt Management Office (DMO)<\/strong> has set its gross gilt issuance target for the 2025\/26 fiscal year at <strong>\u00a3303.7 billion<\/strong>, an upward revision from the <strong>\u00a3299.1 billion<\/strong> planned in April and the <strong>\u00a3299.6 billion<\/strong> projected earlier in the year. This revised financing remit follows a higher-than-expected public borrowing figure. The DMO plans to sell <strong>\u00a378.5 billion<\/strong> in medium-dated conventional gilts and <strong>10.5 billion<\/strong> in long-dated conventional gilts via auction, adjusting from previous remits. Additionally, <strong>\u00a319.4 billion<\/strong> of index-linked gilts will be sold via auction, and <strong>\u00a310.0 billion<\/strong> in green gilts are planned for issuance in 2025\/26.<\/p>\n<p>Chancellor Rachel Reeves announced several key measures in the latest budget. Households are set to see a <strong>\u00a3150 cut<\/strong> from their average energy bills starting in April. Reeves also confirmed that <strong>VAT, income tax, and National Insurance Contributions (NIC)<\/strong> would not be increased. However, changes to <strong>Capital Gains Tax (CGT)<\/strong> relief for the sale of businesses to employee ownership trusts will see it fall from 100% to <strong>50%<\/strong>, with CGT receipts forecast to rise to <strong>\u00a330 billion<\/strong> by 2030 from the current <strong>\u00a314 billion<\/strong>. Other policy shifts include an additional <strong>\u00a31.3 billion<\/strong> for electric car grants, lower business tax rates for <strong>750,000 high street businesses<\/strong>, and a gambling tax reform expected to raise <strong>\u00a31 billion annually by 2031<\/strong>. The end of the two-child benefit cap is projected to cost <strong>\u00a33 billion<\/strong> by 2029-30.<\/p>\n<h3>US Economic Data Shows Resilience<\/h3>\n<p>The U.S. economy displayed signs of resilience as <em>initial jobless claims<\/em> for the week ending November 22 fell to <strong>216,000<\/strong>, below the estimated <strong>225,000<\/strong> and a decrease from the previous week&#39;s revised <strong>222,000<\/strong>. <em>Continuing claims<\/em> also decreased to <strong>1.960 million<\/strong> for the week ending November 15, against an estimated <strong>1.963 million<\/strong>.<\/p>\n<p>Furthermore, <em>U.S. durable goods orders<\/em> increased by <strong>0.5%<\/strong> month-over-month in September, meeting expectations and following a <strong>2.9%<\/strong> rise in August. Excluding transportation, durable goods orders rose by <strong>0.6%<\/strong>. Following the release of this economic data, <strong>US Treasury yields<\/strong> moved higher.<\/p>\n<h3>China Vanke&#39;s Bond Extension Proposal<\/h3>\n<p><strong>China Vanke<\/strong>, a major property developer, has proposed extending <strong>2 billion yuan<\/strong> of its bonds maturing on December 15. This move comes amidst ongoing challenges in China&#39;s real estate sector, with the company also facing another <strong>3.7 billion yuan<\/strong> bond maturity on December 28. The proposal signals continued liquidity management efforts within the industry.<\/p>\n<h3>International Developments and Geopolitics<\/h3>\n<p>In international news, the <strong>U.S. Department of Homeland Security<\/strong> has announced the termination of <strong>Temporary Protected Status (TPS)<\/strong> for Haitian nationals, effective September 2, 2025, as published in the Federal Register.<\/p>\n<p>Meanwhile, Sweden&#39;s Foreign Minister urged the <strong>European Union<\/strong> to immediately advance with a <strong>20th sanctions package<\/strong> against Russia to increase pressure on Moscow. This call aligns with broader EU efforts to limit Russia&#39;s ability to continue the conflict in Ukraine.<\/p>\n<p>In company-specific news, <strong>Morgan Stanley<\/strong> has named <strong>ASML Holding N.V.<\/strong> (<a href=\"\/stock\/ASML\">ASML<\/a>) as its &#39;Top Pick&#39; in European semiconductors, citing strong demand in key chipmaking areas.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The UK Debt Management Office (DMO) announced plans for \u00a3303.7 billion in gross gilt issuance for 2025\/26, an 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