SCROLL NEWS / DISCOVERY
Search headlines
Find the stories shaping the conversation.
Results for " PRIMARY " 2,352 found 🔀 AI-powered Shuffle
5 Things to Know About Derek Dooley, Republican Senate Candidate in Georgia
Mr. Dooley is a former football coach running in the Republican primary with the support of Gov. Brian Kemp.
Former prosecutor who railed against Trump’s weaponization of DOJ wins Dem primary
Zach Dembo, a former federal prosecutor and Navy JAG officer, won the Democratic primary for Kentucky's 6th Congressional District to replace outgoing Rep. Andy Barr.
Senate advances resolution to end Iran war as GOP Sen. Bill Cassidy flips to support it
The Louisiana senator, who lost his primary over the weekend, voted in support of the war powers resolution for the first time. It advanced 50-47, with a final passage vote yet to come.
Federal judge declines to toss WA legislative maps
A federal judge rejected a renewed Republican challenge to the state’s legislative map, finding no evidence that race was the primary factor in redrawing the boundaries.
Senate advances bill aimed at ending Iran war as Cassidy, after primary loss, flips to support it
The Senate advanced legislation Tuesday that seeks to force President Donald Trump to withdraw from the Iran war, as a growing number of Republicans defied the president's wishes.
Trump-backed Navy SEAL vet delivers major blow to Massie in fiery GOP primary
Trump targeted GOP critic Rep. Thomas Massie in Kentucky's record-breaking $32 million House primary, backing former Navy SEAL Ed Gallrein to unseat him.
What to watch in Georgia's blockbuster primary
Georgia is preparing for a blockbuster primary on Tuesday
Trump picks scandal-plagued Texas AG Ken Paxton over incumbent Sen. John Cornyn in Senate GOP primary
Experts: Maine-famous names might be liability this year
With early voting already underway leading up to the June 9 primary, Maine voters are seeing familiar family names on both parties’ ballots.
Sen. Cassidy has no regrets over Trump impeachment vote, even after it cost him his seat
Cassidy lost his seat in his state’s Republican primary Saturday after Trump endorsed one of his opponents.
Baptist Health Paducah to offer special pricing for sports physicals
Baptist Health will offer sports physicals for $35 at its urgent care, primary care, pediatrics, and orthopedics & sports medicine offices. The discounted price is available through Aug. 31.
Trump endorses Paxton in Texas Republican primary, boosting effort to oust Sen. Cornyn
Although the four-term Cornyn has backed Trump’s agenda in Washington, Paxton pitched himself as a political warrior for the MAGA movement.
Trump endorses attorney general Ken Paxton in Texas Senate primary
US president calls Paxton an ‘America First Patriot’ and ‘MAGA Warrior’ ahead of runoff against John Cornyn
Trump picks Paxton over Cornyn in Texas’ GOP Senate primary runoff as early voting is underway
The Republican president had repeatedly teased his intention to endorse a candidate in the race, starting soon after Ken Paxton and John Cornyn emerged as the remaining contenders from the first round of primary voting in March.
Trump endorses Paxton, upending Senate GOP plans in Texas race
President Donald Trump on Tuesday endorsed Texas Attorney General Ken Paxton in his primary challenge to Sen. John Cornyn, dealing a massive blow to the incumbent with major implications in the fight for the Senate majority.
Voters cast ballots in several high-profile primary elections
Voters head to the polls in primary elections in Pennsylvania, Georgia, Kentucky and Alabama. Follow for live news updates.
Free Primary Care Is a Promising New Idea for Democrats
Democrats could benefit from new something to say on health care policy, and free primary care would help a lot of people, too.
Live Results: Oregon midterm state and congressional primaries
Oregon’s Democratic Gov. Tina Kotek and the nearly two dozen challengers hoping to defeat her are among the candidates who will seek their parties’ nominations for state and federal offices in Tuesday’s primary.
Live Results: Pennsylvania midterm congressional primaries
Democratic voters in Tuesday's Pennsylvania primary will pick their nominees to flip four seats seen as critical for the party to retake the U.S. House in November.
Trump’s Push to Defeat Thomas Massie Is the Most Expensive House Primary in Recent Years
The Republican primary in Representative Thomas Massie’s district has drawn vast spending, but it is just one of several contests on Tuesday that will test the power of big money.
Georgia primary could be the starting gun for Democratic and Republican runoffs
Georgia voters are set to settle nominees for three high profile races
Live updates: Democrats, Republicans pick their nominees in Pa. primaries
Democratic and Republican voters will chose their nominees in Pennsylvania’s primaries on Tuesday, May 19, 2026. Get live updates.
It’s the Most Hotly Contested Primary in America. Liberals Are Excited. They’re Getting It All Wrong.
The Epstein files, a MAGA civil war, and an alleged sex scandaled have turbocharged a House race.
What to watch in Tuesday’s primaries in Kentucky, Georgia and elsewhere
Tuesday brings one of the busiest primary days of the 2026 calendar year, with six states holding nominating contests.
DC politics have arrived in West Virginia
West Virginia politics have taken on a distinctly DC-style edge, brought in by Gov. Patrick Morrisey. While this approach may offer short-term gains for the governor and his allies, the long-term effects of the 2026 Republican Primary could extend well beyond another election cycle with fewer people willing to put their name and reputation on
GOP Rep. Thomas Massie defiant as Trump seeks to oust him in primary: "I'm going to win"
Massie said the president is worried about his preferred candidate Ed Gallrein's chances in the Kentucky race.
Hegseth unleashes on Massie in GOP primary showdown against Trump-backed Navy SEAL vet
Trump-backed Ed Gallrein gets boost from Defense Secretary Hegseth on the eve of Kentucky's GOP primary challenge against Rep. Thomas Massie.
Georgia’s agribusiness industry depends on a thriving, fully funded public health system
In the fiscal year 2027 budget that Gov. Brian Kemp signed last week, less than one in every 10 state dollars spent on Georgia’s three primary health agencies is allocated to the Department of Public Health. The future of Georgia’s No. 1 industry relies on a state and local public health system that can track […]
Live Results: Kentucky midterm congressional primaries
WASHINGTON (AP) — U.S. Rep. Thomas Massie, one of President Donald Trump’s most vocal critics within the Republican Party, faces a tough primary challenge Tuesday in Kentucky’s state primary. It’s the latest example this primary season of the president trying to purge the party of Republicans he perceives as disloyal. Kentucky voters will also pick nominees for U.S. Senate, five other U.S. House seats and the state General Assembly. Voters in Louisville will winnow down
Primary Care Hub Closed After Chemical Spill
Roughly 50 gallons of a coolant chemical called glycol spilled from the second floor to the first floor of a Sargent Drive medical-office building Monday -- leaving the building's health clinics closed for the day and requiring patients to seek care elsewhere.
Pete Hegseth boosts Trump-backed challenger to Rep. Thomas Massie ahead of Kentucky primary
It’s highly unusual for the defense secretary to participate in a political event. Massie has opposed the Trump administration’s handling of the war in Iran.
Georgia Republicans Grasp for a Contender to Take On Democratic Sen. Jon Ossoff
On the eve of their primary, Republicans have grown nervous about their prospects in November against Mr. Ossoff, regarded as the most vulnerable Democratic senator in the fall midterms.
5 runoff races to watch as early voting kicks off
Early voting for the primary runoff elections is here.
Poll: Moderate Jared Moskowitz dominates Dem Primary against progressive Oliver Larkin
About two-thirds of Democratic voters said a moderate Democrat is a smarter choice in the new South Florida battleground.
Maryland ballot blunder triggers GOP push for federal review of blue state's voter rolls
Republicans call for a federal review of Maryland's voter rolls after a ballot vendor error forced the state to resend thousands of primary ballots.
Virtual platform offers a valuable lifeline for rural primary care patients
An Indiana doctor built ChatRx, with e-prescribing built into its workflow, as an alternative to the long-drive, long-wait and high-cost alternative of in-person care delivery.
AP Decision Notes: What to expect in Oregon’s primaries
Oregon’s Democratic Gov. Tina Kotek and the nearly two dozen challengers hoping to defeat her are among the candidates on the ballot in Oregon's primary.
AP Decision Notes: What to Expect in Oregon’s Primaries
WASHINGTON (AP) — Oregon’s Democratic Gov. Tina Kotek and the nearly two dozen challengers hoping to defeat her are among the candidates who will seek their parties’ nominations for state and federal offices in Tuesday’s primary. Voters will also decide a statewide ballot measure that would raise ...
AP Decision Notes: What to expect in Kentucky’s primaries
One of President Donald Trump’s most vocal critics within the Republican Party faces a tough primary challenge in Kentucky’s state primary | 97.3 The Sky
AP Decision Notes: What to expect in Kentucky’s primaries
One of President Donald Trump’s most vocal critics within the Republican Party faces a tough primary challenge in Kentucky’s state primary.
Cassidy primary defeat is a 'loss for the country,' Romney says
Former Sen. Mitt Romney calls Bill Cassidy's Louisiana Republican primary defeat a loss for the country as Trump revels in the senator's ouster.
Texas is opening up a detransition clinic
Americans exposed to Ebola outbreak, Bill Cassidy's primary defeat, and more health news from Morning Rounds
AP Decision Notes: What to expect in Pennsylvania’s primaries
Pennsylvania Democrats will pick nominees to unseat a trio of vulnerable Republican members of Congress in a state primary on Tuesday.
Brian Kemp passed on a Georgia Senate run. Then he threw himself in the middle of the GOP primary
Brian Kemp may not be running for US Senate — but the Georgia governor is campaigning like his name is on the ballot.
Colorado GOP plays with fire as primary approaches
Over the next several weeks, the Colorado Republican Party will make consequential decisions that will determine just how relevant it will be in 2026 and beyond. The 600-member Colorado Republican State Central Committee will meet on May 30 to elect a new state chair following the resignation of Brita Horn. The Colorado Republican Primary Election […]
CD 2 candidates gear up for Tallahassee debate Monday
Republicans battle for open Panhandle congressional seat ahead of August Primary.
Trump targets political rivals ahead of midterms
Louisiana Senator Bill Cassidy, who’s been at odds with Trump, lost his primary this weekend. It comes as the president is targeting other political foes ahead of midterms, with another primary fight set for this week. NBC’s Julie Tsirkin reports.
Despite retribution, Cassidy attempted to make amends with Trump after impeachment vote
NEW ORLEANS (AP) — When Charles Wandfluh voted in Louisiana's Republican primary over the weekend, he could only conjure the unflattering image of a panicked rodent when talking about Bill Cassidy's desperate attemp t to cling to his U.S. Senate seat despite opposition from President Donald Trump. “He’s just a squirrel running around the tree, chasing nuts to find whatever he can get to benefit him,” said Wandfluh, 57, in a suburb of New Orleans.
Trump gets back at Louisiana senator who voted to convict him
Louisiana Sen. Bill Cassidy placed last in a three-way race.
What to Know About Letlow And Fleming in the Louisiana Senate Race
He was defeated in the Republican primary in Louisiana on Saturday. Representative Julia Letlow and State Treasurer John Fleming are now in a runoff for the party’s nomination.
Video: Cassidy Loses Primary After Drawing Trump’s Ire
Republican Senator Bill Cassidy lost his Louisiana primary on Saturday after President Trump targeted him for voting to impeach him in 2021. The two-term senator took veiled swipes at the president in his concession speech.
With Sen. Cassidy's primary defeat, Trump's revenge campaign continues
President Trump succeeded in his effort to defeat Sen. Bill Cassidy in Louisiana’s Republican primary, a signal of the enduring strength of the president’s hold on his party despite his unpopularity with the wider American public.
Trump attacks Massie as Republican critic describes ‘desperate’ attempts to oust him from primary
US president writes ‘vote the bum out’ as congressman faces close race against Trump-endorsed Republican
Jo Rae Perkins discusses Oregon politics ahead of Tuesday’s Primary
Jo Rae Perkins is the definition of a perennial candidate.
Pro-Israel groups are spending big to sink Thomas Massie in the most expensive House primary in history
“AIPAC’s views on Thomas Massie are no secret,” the group's spokesman said. “We use different tactics in different districts. Our goal is to win.”
Trump calls out Rep Thomas Massie: 'Kentucky, get this LOSER out of politics' Tuesday
Trump uses Sen. Bill Cassidy's Louisiana ouster as a warning shot against Rep. Thomas Massie ahead of Kentucky's Tuesday Republican primary election.
Republican Senator Cassidy loses Louisiana primary after opposing Trump
Bill Cassidy is among seven Republican senators who voted to convict Trump after the January 6, 2021, Capitol attack.
Kentucky’s Curious Cast of Political Characters
The state, where a rebellious Republican faces a tough primary challenge on Tuesday, has an unpredictable political landscape that has produced a long list of surprising figures.
The new political era of insurgent candidates is roiling the Pennsylvania primary
A decade after Donald Trump upended the Republican Party by attacking the GOP establishment in his first presidential campaign, the political outsiders...
Trump-backed Letlow advances to Louisiana Senate runoff as Cassidy faces political reckoning
BATON ROUGE, La. — U.S. Rep. Julia Letlow advanced to a runoff in Louisiana’s Republican Senate primary Saturday, capitalizing on the power...
Louisiana Sen. Bill Cassidy loses in Republican primary, does not advance to runoff
Sen. Bill Cassidy is one of few remaining Republican senators who voted for President Trump's impeachment after the Jan. 6 attack on the Capitol. Trump endorsed his opponent, Rep. Julia Letlow.
Trump Nemesis Sen. Bill Cassidy Defeated in GOP Primary
The Louisiana lawmaker finished third to Julia Letlow and John Fleming after angering the president.
Trump scores major Republican primary victory as Cassidy ousted in Louisiana
Trump-backed Rep. Julia Letlow and Louisiana Treasurer John Fleming top Sen. Bill Cassidy, who is defeated in bid for GOP Senate nomination
Letlow, Fleming advance to runoff in Louisiana GOP Senate primary, CBS News projects
Incumbent GOP Sen. Bill Cassidy, who had occasionally broken with the Trump administration, did not advance to the runoff, CBS News projected.
Louisiana election live updates: Sen. Bill Cassidy faces primary against Trump-backed Rep. Julia Letlow and more
Follow live updates and breaking news coverage of the Louisiana primary election as Sen. Bill Cassidy faces Trump-backed Rep. Julia Letlow.
Louisiana’s new closed party primary causes confusion at the polls on election day
“There’s confusion throughout the state,” said one elections official.
Live results: Cassidy fights for political life in Louisiana Senate GOP primary
Louisiana Sen. Bill Cassidy (R) is fighting for his political life in a GOP Senate primary Tuesday. Trump has endorsed Rep. Julia Letlow (R) in her challenge against Cassidy. Polling from…
Trump disparages incumbent Sen. Cassidy and tries to propel his challenger in Louisiana GOP primary
Trump endorsed U.S. Rep. Julia Letlow over Cassidy, in an unusual attempt to dislodge an incumbent senator. Cassidy voted to convict Trump in his second impeachment trial.
Louisiana Senate Primary Election 2026 Live Results
See live results from the 2026 Louisiana Senate primary election as votes are counted for Republicans and Democrats.
Trump criticizes Sen. Cassidy while pushing challenger in Louisiana GOP primary
If no candidate gets 50% of the vote, there will be a runoff June 27
Trump criticizes Sen. Cassidy while pushing challenger in Louisiana GOP primary
If no candidate gets 50% of the vote, there will be a runoff June 27
Trump criticizes Sen. Cassidy while pushing challenger in Louisiana GOP primary
If no candidate gets 50% of the vote, there will be a runoff June 27
Trump’s drive for political revenge faces a key test in Saturday’s Louisiana Senate primary
President Donald Trump’s drive for political revenge faces a key test Saturday in Louisiana, where he is looking to defeat Republican Sen. Bill Cassidy five years after Cassidy voted to convict him in his second impeachment.
What to Watch in Saturday’s Republican Senate Primary in Louisiana
Senator Bill Cassidy, who has drawn President Trump’s ire, is fighting for political survival.
Sen. Bill Cassidy faces Louisiana Republican primary for the first time since his Trump impeachment vote
The Louisiana Republican is running for re-election against Trump-backed Rep. Julia Letlow and state Treasurer John Fleming.
An Upper West Side Primary Presents a Test of Judaism and Politics
Stephanie Ruskay is seeking to become the first female rabbi to be elected to state office in New York, but the race may hinge on whether voters find her progressive enough.
Sen. Cassidy battles Trump-backed challenger in Louisiana Republican primary
Republican Sen. Bill Cassidy of Louisiana is fighting for his political life in Saturday’s primary against a challenger who has been endorsed by President Donald Trump
Live Results: Louisiana midterm state and congressional primaries
Louisiana voters will participate in a revamped and stripped-down state primary Saturday and decide the political fate of an embattled Republican U.S. senator targeted for defeat by President Donald Trump.
Democratic primary candidates for comptroller to debate on NY1 stage on May 21
Democrat Thomas DiNapoli has held the position for nearly two decades; he now faces challenges from Drew Warshaw and Raj Goyle.
Trump’s China trips ends with more questions than answers: From the Politics Desk
Plus, he’s not on the ballot, but Gov. Brian Kemp faces a big primary test in Georgia next week.
Race list for May 26 Texas primary runoff
Early voting for the Texas primary runoff runs May 18-22. See the federal, state and county runoffs on ballots in Collin, Dallas, Denton and Tarrant.
Wahls, Turek spar on reproductive healthcare records at Senate primary debate
Candidates Josh Turek and Zach Wahls sparred Thursday during the second U.S. Senate Democratic primary debate on issues like reproductive healthcare and how to best achieve their policy goals if elected.
Free primary care for all: Democratic think tank pushes the party on new health policy
The Searchlight Institute wants Democrats to shake up their approach to healthcare and offer a fresh vision for the future.
Chartbook 449: Voldemort on Threadneedle street. The Bank of England and the "haunted house" of English politics.
Imagine the scene: In some Harry Potter version of 21st-century London, a group of deathless UK Treasury officials gathered from across the last century huddle over warm pints and glasses of Chardonnay. Around the table there are officials from the 1920s, the 1930s, the 1970s, 2022 and today. Inevitably, in May 2026, the subject of conversation is the disintegration of the current Labour government. Despite its huge majority in parliament, it has been reduced to tatters by catastrophic local election result. These exposed the fact that rather than having a government with a clear popular majority, the UK is like most other modern societies divided into 5 segments each of which commands between 26 and 16 percent of the vote. Perhaps unsurprisingly, the leadership at Nos 10 and 11 Downing Street - where the Prime Minister and the Chancellor (Treasury Secretary) work - seem paralyzed. They are caught between mounting discontent over unfairness and the cost of living, and tough fiscal strictures that push them into making unpopular spending decisions. In the London pub, the Treasury officials from across the ages, can barely hide their satisfaction at the latest display of democratic politics caught in the vice-grip of financial logic. “Remember the mur d’argent and the banker’s ramp?” “Just like yesterday!” There are smirks around the table. Then the representative of 2026 pipes up: “One thing you have to say about the current lot (referring to the latest hapless Labour government), you don’t have to teach them about the bond market!” There is a murmur of ascent from the Treasury Mandarins. The trauma of the fiscal crisis of September-October 2022 sits deep. Back then, in the final stages of Tory decay, a ‘mini budget’ that challenged fiscal orthodoxy led to a brief but fierce panic in one of the oldest government bond markets in the world (aka gilt market). Now all you have to do is to mention the “bond market” to hush debate. [ Paul Mason@paulmasonnews In the name of public service, and as ex-economics editor of BBC Newsnight, I offer to do a zoom call, tonight, with any Labour MP who wants to understand why bond markets do not "fall into line" with governments. 1/ 3:57 PM · May 12, 2026 · 466K Views 224 Replies · 674 Reposts · 3.93K Likes ](https://x.com/paulmasonnews/status/2054229532404519082?s=20) “And the funny thing is”, the young man in the huddle continues, “they don’t even want to talk about … ”. There is a sudden hush. Significant looks are exchanged around the table. About? One of the senior figures puts down his glass with a decisive “clink”. He-Who-Must-Not-Be-Named has entered their thoughts. Meanwhile, a few miles away in a grubby pub in Bloomsbury, two conspirators from the camp of Critical Macrofinance huddle over cans of low-alcohol IPA. They look at each other and blurt out loud: “The Bank!” “Everyone in the bloody Labour party is talking about the bond market. But why aren’t they even mentioning … the Bank of England!?” “Why is no one talking about Voldemort?” In Paul Mason’s blogpost, after much chest-thumping about basic fiscal logic, the basic point about the Bank of England is buried in the fine print at #3 in his list of suggestions as to what a radical Labour government might actually be able to do! [ Conflict & Democracy Down with the bond market! Down with gravity! It may seem unfair to focus on Labour MP Paula Barker for her off-the-cuff assertion that the bond market would have to “fall in line” with Andy Burnham, should he replace Keir Starmer as prime minister. But Burnham himself told the New Statesman that Labour had to “get beyond this thing of being in hock to the bond markets… Read more 2 days ago · 100 likes · 3 comments · Paul Mason ](https://htsf.substack.com/p/down-with-the-bond-market-down-with?utm_source=substack&utm_campaign=post_embed&utm_medium=web) Back in Bloomsbury they shake their heads and ask: “Didn’t we learn anything from the Eurozone crisis?” Meanwhile, as if summoned to the conversation by some higher force, the “pink pages” announce: “The days of ultra-cheap government borrowing have come to an end” and Martin “Whizzard” Wolf publishes the graph of the season Look at the UK in 2026, perilously positioned on the upper edge of the pack. No wonder no one in London needs any lessons about the “bond market”. But, look again. Imagine how they feel in Rome. What is London’s nightmare in 2026? The nightmare is that you end up like Italy in the early 2010s during the Eurozone crisis. Once comfortably situated in the middle of the pack, watching with horror as your ten-year yields explode to 7 percent and “spreads” become a national nightmare. One of the largest economies in Europe, a founding member of the euro, stigmatized. But the message of the Italian experience is ambiguous. After all, the stigma didn’t last. In 2026, Italy borrows at rates lower not only than the UK but the US. The US, which, as everyone knows, enjoys the “exorbitant privilege” of being the issuer of reserve, safe asets. What kind of magic is this? How did Italy, in the space of fifteen years, go from being good, to bad and back again? Which brings us back to our dissident friends in their Bloombury boozer and their memories of the Eurozone crisis. Italy never was Britain - with its ongoing fiscal deficits. Without interest payments, on primary balance, from 2000 to 2020 Italy ran a tight fiscal ship. Even in 2008 it barely went into deficit and when it was being put on the rack in the early 20210s its primary surplus matched that of austere Germany. So, what happened? How did it end up stigmatized? Of course Italian politics didn’t help. Berlusconi was at the helm and he had legal issues. But amongst friends in the Bloomsbury pub, Berlusconi is a sideshow, the name we whisper to each other is “Trichet”. From 2004 to 2011 the ECB was headed by Jean-Claude Trichet, ex of the French Treasury, more German than the Germans. After 2009 as the news of the Greek fiscal disaster broke, the European bond markets wento into panic mode and Trichet began a brutal game of cat and mouse. Between 2009 and 2011, Trichet intervened in the bond market to help, only when he thought he had compliance with austerity. When he thought they were uncooperative, he withdrew. In the summer of 2011, he even made direct suggestions to his Italian counterparts in Rome, as to how Italy should be governed. It was this cat and mouse game that drove the bond markets crazy and exposed Italy to a violent squeeze. When Mario Draghi took over the ECB at the end of 2011 and declared “whatever it takes”, the pressure on Italy, gradually eased. It is that starring role that has made Draghi into the towering figure in European politics that he remains today. So now you see why voices in London hush when it comes to the Bank of England. “The bond market” isn’t an irresistible objective force like the weather or an avalanche. It can appear like that. But that depends on the way it is being handled, or not handled by the central bank. Which is why the silence about the Bank of England in London right now is so significant. If you think this all sounds a bit fishy, coming from a left-liberal Keynesian like myself, well, let me introduce you to Robin Brooks, who, to put it mildly, plays on a different quidditch team to me. Here, from the position of a fiscal hawk is Robin’s celebratory account of the Bank of England’s role since 2022; In October 2022, at the height of the bond market blow-up in the UK, something incredible happened. Governor Andrew Bailey told British pension funds the Bank of England would end its support program for the country’s fragile gilt market, drawing a line under how much help the central bank was willing to give to exposed pension funds and - implicitly - the government. By the end of that week, Kwasi Kwarteng - the finance minister - had resigned. Prime Minister Liz Truss would soon follow. This episode is so incredible because it contrasts with what happened in the Euro zone earlier that year. Bond markets in Spain and Italy were under pressure amid high inflation and rising interest rates. In the middle of this, Mario Draghi - Italy’s Prime Minister - resigned, compounding pressure on bond markets of high-debt countries on the Euro periphery. Unlike the Bank of England, the ECB caved. It bought Italian and Spanish government bonds in an effort to cap yields and introduced a new tool that signaled to markets it might do such caps more frequently going forward. Faced with pressure on bond markets, the ECB capitulated to political pressure from high-debt countries like Italy and Spain. The Bank of England stood its ground and toppled the Truss government. This kind of thing has long-lasting consequences. It means markets price a higher probability of yield caps in the Euro zone, which keeps Italian and Spanish yields artificially low, while markets feel free to push up UK yields without fear of central bank intervention. As I flagged in yesterday’s post, this means you really can’t compare UK yields to those of other high-debt countries. The UK looks worse, but only because its central bank isn’t interfering with markets. There’s more to this than just that 2022 episode. The Bank of England has also been much more aggressive in its quantitative tightening (QT) than other central banks. If one motivation for quantitative easing (QE) is to lower bond yields - especially longer-dated ones - then it stands to reason QT pushes yields up. The left chart above shows a four-quarter moving average of UK government debt issuance (black line) in percent of GDP and which sectors absorb this issuance, including the Bank of England (blue bars). The right chart above compares the Bank of England’s accumulation or run-off of government bonds (blue line) with that of other central banks, where this blue line is the same as the blue bars in the left chart. The Bank of England was quicker and more aggressive than other central banks in downsizing its bond holdings, so UK yields will have risen more than elsewhere also for this reason, not just because of Governor Andrew Bailey’s remarks in October 2022. Back in October 2025, after a conversation in New York with friends in British politics, my sense of dysphoria was such that I raised the issue of the Bank of England openly in the FT Since 2008, the UK has slid into a deep economic and political predicament. Growth has stagnated to a degree far worse even than in the 1970s. The Tory leadership’s wager on the Brexit referendum spectacularly backfired, leaving the UK isolated from Europe and at the mercy of its special relationship with the US, many of whose political class regard the UK as a basket case. After years of austerity, the Labour party lurched to the left and then back to the centre. The Tory party has been eclipsed by the populist nationalism of Reform. Any British government should be worrying first and foremost about how to restart growth. Instead, Keir Starmer is beset by shades of the gilt market panic triggered by the Liz Truss government in 2022. The debt level is higher than in recent years, but there is no cause for panic. UK debt is at far from critical levels and of long duration. Whether you want to “take back control” or launch progressive economic policy, a democracy dogged by fear of bond market vigilantes is unhealthy. In a country that is a monetary sovereign, this climate points to one thing: a disconnect between the government and the central bank. Since 1997, the independence of the Bank of England has become a sacred cow. But independence is what you make of it. And in the wake of the gilt market crisis of September 2022, relations between the Bank of England and the UK government need a reset. In normal times, there is no doubt that an inflation-targeting independent central bank can serve a country well. But since 2008, the UK and other advanced economies have not had the luxury of such simple problems. To their credit, central bankers around the world have not stood on orthodoxy. After 2008, the US Federal Reserve rescued the global banking system and, through quantitative easing, it stabilised the Treasury market in the face of huge deficits. In Europe, things were trickier. Both the Bank of England under Mervyn King and Jean-Claude Trichet’s European Central Bank played cat and mouse with national governments. This was a high stakes wager that between 2010 and 2012 escalated bond market tension and triggered a disastrous turn to austerity. Shaken by the impact of those shocks, their successors, Mark Carney and Mario Draghi adopted a more protective stance (assuming you were not the government of Greece). Recall that Draghi’s legendary slogan, “Whatever it takes”, was uttered to face down the City of London’s bond vigilantes. In 2015, Draghi launched QE — financial repression by another name. In 2016, Carney used the authority of the Bank of England to stabilise markets following the vote for Brexit, an exemplary demonstration of how central banks can underpin democratic choice, even when those choices are wrong headed. All these were independent central bankers steeped in the best practice of the 1990s, who recognised that historic crises demanded radical action. It was the price surge of 2021-2023 that poisoned the atmosphere. Though the shock came mainly from the supply side, central banks ended up in the dock. Nowhere more so than in the UK. The Bank of England reacted with aggressive normalisation. Faced with a cost of living crisis, the governor called for workers to accept real wage cuts. In early 2022, as gas prices were at record levels and Russia’s army was poised to invade Ukraine, the Bank adopted a stringent programme of quantitative tightening, elevating interest rates. When the Truss government got itself in trouble, the Bank took almost a week to come to the rescue. Rather than enacting a charade of normality, it is time to recognise that in 2025 the UK faces a period of historic transition. To meet this challenge, what is needed is a new concordat with the Bank. This should not ignore inflationary pressures or the long-run trajectory of debt, but should affirm the priority of reviving investment-led growth. One could follow Donald Trump in demanding interest rate cuts. The Bank could shadow the ECB in its commitment to capping Eurozone yields. But the top priority should be to lay the ghost of September 2022. The Bank’s slowing of QT last month was a concession. An immediate and complete end would send the right signal. Such a concordat will not by itself restore sanity to politics, solve the housing problem or rebuild the NHS. But it would help to lift the fear of bond market crisis, which is paralysing the effort by democratic politicians to answer the fundamental questions facing the nation. Now, that call for a new concordat between government and Bank of Englands seems more urgent than ever. The problem is that in October 2025, Starmer still had some authority. Today the government is in tatters. And when you are the “under the harrow” - to echo a phrase of Montagu Norman’s from the 1920s - it is the worst possible time to consider institutional change. To make general arguments at a time of crisis can only seem like special pleading rather than a general argument for long-term change. The same, unfortunately, is also true for the other basic institutional reform that Britain urgently needs i.e. the abolition of the out-dated first past the post electoral system and its replacement by a moderated form of proportional representation. And thirdly - whilst we are saying the quiet parts out loud - Britain needs to reopen the question of EU membership. What the local election results of 2026 show is that this remains a key issue. And what they also show is that there is a clear majority that would favor a return. Until these basic features of Britain’s political economy are addressed the country will carry on its politics as though in a haunted house, governed by governments that lack actual majorities, conjuring up false constraints whilst ignoring the real ones. This one is for DG and MI. I love writing the newsletter. If you enjoy it too and fancy buying me a coffee once a month, you know what to do. Click below! Subscribe
Kentucky Republicans race to replace McConnell while carefully keeping him at arm’s length
Kentucky’s Republican Senate primary to replace Sen. Mitch McConnell is becoming a test of the Republican Party’s transformation under President Donald Trump
Louisiana senate passes new U.S. House map that would eliminate majority-Black district
The new U.S. House districts, which still need House approval, would be used for primary elections poised to be postponed from Saturday until November. This as South Carolina's governor pushed for congressional redistricting and could call lawmakers into a special session.
Open Primaries Have Their Fans. The Parties Are Not Among Them.
New research claims that bipartisan primaries have broad societal benefit, but opposition is growing, and Louisiana voters this weekend will participate in the state’s first closed primary since 1978.
CA governor candidates to face off in what may be last debate before June primary
Steyer’s billions, Hilton’s Trump endorsement, and Becerra’s baggage are all in play — but one new development could dominate the night.
Lehigh Valley Political Pulse: Politics in an evolving news landscape
Katherine Reinhard said many voters remain undecided heading into the primary and urged audiences to rely on credible reporting as they make final decisions.
Markel expands professional liability offerings with new media and entertainment coverage options
/PRNewswire/ -- Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), today announced an expansion of its professional liability offerings for...
Markel expands professional liability offerings with new media and entertainment coverage options
/PRNewswire/ -- Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), today announced an expansion of its professional liability offerings for...
GOP candidates for governor align on energy, housing — and against Bobby Charles
All seven Republican gubernatorial candidates shared a stage for the first time in a televised debate ahead of the June 9 primary election.
Vance is set to speak in Maine about fraud investigations ahead of primary election
Vice President JD Vance is set to visit Maine to highlight the Trump administration’s anti-fraud efforts before the state’s primary elections.
RFK Jr.’s Political Power Is on the Ballot in Louisiana GOP Primary
Robert F. Kennedy Jr. is unleashing the force of his political movement to oust two-term Republican US Senator Bill Cassidy in Louisiana’s Republican primary after more than a year of tensions between the two men.
The power players who might pick the next California governor
With less than a month to go until the California gubernatorial primary, candidates are hoping to land key endorsements from big political names.
Trump vs. Massie becomes a loyalty test for Kentucky voters
No Republican has infuriated President Donald Trump more than Rep. Thomas Massie, which has placed him in a precarious position heading into Tuesday’s Republican primary in Kentucky. The race is already one of the most expensive primary contests ever, with more than $29 million spent on advertising alone, setting up the biggest political test Massie has ever faced. Their long-running duel will be settled by voters like Joni Pugh, who has admired Trump for the last decade and Massie for much longer.
Ad wars ramp up in D.C. mayoral race as primary enters final month
Deep-pocketed political groups are seizing on potential vulnerabilities of the top Democrats in the race, Janeese Lewis George and Kenyan McDuffie.
The 12 contenders to fill Manchester United’s midfield hole
Just as overhauling the attack was Manchester United’s primary aim last summer, revamping their midfield is the priority in this transfer window.
Denise Powell wins Democratic primary for Nebraska's 2nd congressional district
Political organizer Denise Powell has defeated State Sen. John Cavanaugh to win the Democratic primary in the closely watched race for Nebraska's second congressional district.
Denise Powell wins Democratic primary in Nebraska’s ‘blue dot’ 2nd District
Denise Powell has won the Democratic primary in Nebraska’s 2nd Congressional District in a contest focused on the state’s “blue dot” status in presidential elections