Newsletter
31/10/2026 Happy Halloween from The Agora Papers! It's certainly been a busy few weeks! Alongside our weekly articles and explainers, we've welcomed a wave of brilliant new writers, launched a new initiative, announced an exciting partnership and published our biggest special feature yet: three
2026 Budget
On Wednesday, Chancellor John Healey will present his much-anticipated inaugural budget. Among those watching, the bond investor community will perhaps be doing so with the greatest intensity. With a deficit equivalent to 5.2% of GDP last year and the last budget surplus now 25 years gone, fiscal responsibility
Explainers
What actually ended Liz Truss’ brief time in office? Why are bond markets having such an effect on UK Prime Minister Andy Burnham's premiership? And what on earth are bond vigilantes - and why do they hold so much power? Government Expenditure When the government wants to spend money,
The Market
The largest single-day percentage drop in the Dow Jones Industrial Average was not due to one particular historical event. It did not follow the announcement of either World War, the 1929 Wall Street Crash, or the bombing of Pearl Harbour in 1941. Nor did it occur at the trough
Beyond the West
Rethinking our approach to development: the alternative path offered by microfinance, social bonds, and a search for innovative solutions. The roots of modern microfinance can be traced back to the 1970s, when Nobel Prize winner Muhammad Yunus began experimenting with small-scale lending to poor households in rural Bangladesh. His
The Market
The economics behind the world’s largest sporting event, and what this tells us about who the winners and losers really are. Every four years, the World Cup casts its bright stadium lights across the globe once again. Sweepstake teams are drawn, brand-new shirts are bought, national flags reappear