On this week's markets wrap, John Stepek speaks with Bloomberg Opinion columnist Marcus Ashworth and Morwenna Coniam from the Markets Today team about this week’s fall in the headline rate of consumer price inflation and slowing wage growth. They also discuss rising youth unemployment and the potential economic impact of government labor policies, while weighing a cautiously optimistic outlook for UK growth. Marcus also comments on Nuveen’s takeover of Schroders as part of a broader trend of US asset managers seeking international diversification amid dollar weakness.

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Merryn Somerset Webb and John Stepek are joined by Bloomberg’s Jack Sidders to break down how Real Estate Investment Trusts (REITs) work and why they’ve struggled in recent years. They explore the impact of interest rates, the significance of different sectors such as warehouses, student housing and data centers, and why many UK REITs trade at steep discounts. With interest rates potentially falling and supply constrained, they also discuss whether REITs could be poised for a comeback — and where investors might start.

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Merryn Somerset Webb speaks with Panmure Liberum Chief Economist Simon French to unpack Modern Monetary Theory—the idea that governments issuing their own currency can spend freely, constrained only by inflation. They explore whether the pandemic offered a real-world test of MMT, why fiscal policy may be too blunt a tool to control inflation and what the theory could mean for UK politics, bond markets and capital allocation.

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