Bond rout pushes US mortgage rates past 7%

Xi Jinping said the US and China should avoid being drawn into a “conflict” in remarks at the White House, and Brussels has warned Britain needs to raise tariffs on Chinese cars if it wants to avoid barriers that would hit crucial exports. Plus, dozens of foreign officials walked out of the UN General Assembly as Israeli Prime Minister Benjamin Netanyahu began his address, and the FT’s Kate Duguid explains what the bond market sell-off means for US mortgage rates and the health of the economy.

Mentioned in this podcast:

Xi Jinping says US and China must ‘coexist in peace’ in historic White House visit

US mortgage rates breach 7% as affordability pressures mount

EU urges UK to raise tariffs on Chinese cars to avoid ‘made in Europe’ barriers

Subway rival bets hot sandwiches will sell in UK’s ‘cold and rain’

Credit: United Nations, White House

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The FT News Briefing is produced by Sonja Hutson, Saffeya Ahmed, Katya Kumkova, and Josh Gabert-Doyon. Our editor is Marc Filippino. Our show is mixed by Sam Giovinco and Kelly Garry. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.

Read a transcript of this episode on FT.com

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