‘Slow Horses’ author Mick Herron reveals the secret origins of Slough House

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In the middle of a conversation about “Clown Town,” the new Slow Horses novel, author Mick Herron reveals a bit of previously untold lore about the origins of Slough House.

Referring to a team of older spies who appear in the just-published book, Herron says, “Their careers never really went in the direction that they should have, very similar to the way the Slow Horses have been treated,” the latter referring to his recurring cast of misbegotten MI5 agents. “But of course, this is way back when Slough House itself didn’t exist at the time they were on active duty, so there was never any chance that they would have been sent there.”

Balancing gripping espionage, office tensions and Herron’s deeply funny prose, the Slow Horses books focus on M15’s fictional Slough House unit: the career dead-end for screw-ups, ne’er-do-wells and the odd spy who’s just had a bit of bad luck.

But wait, Herron doesn’t share how Slough House got started in the books, does he?

“I don’t; I’ve never specifically stated it. But I’ve always felt, and I don’t think I’ve stated this either, that it came into being with Jackson when it started,” he says. “Slough House was made for him, as it were, rather than him taking it over. I don’t think it was around before he was.

“It’s not something I’ve examined, but that’s certainly my feeling about it. I may have made allusions to that. I’ve certainly never gone into any detail about it,” says Herron.

Jackson, of course, refers to Jackson Lamb, the brilliant, bilious spymaster who runs Slough House. Though his motives are often as murky as the foul air in his office, Lamb seems to be keeping the nation safe by burying his team in pointless paperwork and isolating them from actual spywork – except when things have gotten so bleak that the Slow Horses can’t possibly make things worse. Until they do.

In a conversation edited for length and clarity, Herron, a warm, generous conversationalist, spoke by phone from Oxford, England, about the new book, his characters and how Rolling Stones frontman Mick Jagger came to sing the theme to the Apple TV+ streaming series, which returns for a fifth season on Sept. 24.

Q. How do you describe the new book “Clown Town” for people who haven’t read it yet?

It’s about a bunch of older spies who were treated badly, they feel, in terms of what they were asked to do, the operation they were asked to to take part in many years ago, a morally dubious operation, and are seeking some kind of reparation for what they went through. That, for me, is the core of the book.

Apart from that, it’s the Slow Horses doing what they always do, which is bicker amongst each other and make a bad situation worse.

Q. Do you find yourself doing a lot of research to write the novels?

If I find an interesting nugget of information that I can use, I’m going to use it. But I really write to mood and tone more than to anything else. I have quite deliberately deprived my characters access to any high-tech stuff so I don’t have to worry about that.

And I have invented a character in Roddy Ho who can do things on the computer, and that’s all I need to know. So I can have him do stuff I wouldn’t know how to go about doing, but I believe it’s possible to do it, and therefore he will be able to do it for me.

Q. Let’s talk about Roddy, the computer genius: He’s awful and self-deluded, but you somehow manage to make him sympathetic and entertaining to spend time with.

I think this is largely due to reader empathy more than anything else. One of the wonderful things about reading is that it does give you insight into other lives, other states of being. I don’t try to make him less awful, and I don’t try to make the reader love him. I just know that readers do extend their sympathy to characters, unless they’re outright evil.

You wouldn’t want to work at the desk next to him, but it does make him fun to read about, because you can let yourself go and just enjoy the ego trip that he’s on, but also recognize that there’s a sadness there, because Roddy genuinely doesn’t appreciate what an awful person he is.

ALSO SEE: ‘Slow Horses’ author Mick Herron says, ‘My heart is with those who struggle’

Q. In the new book, you say Jackson Lamb looks like “a sleeping bag someone had stuffed with potatoes,” among other descriptions I won’t spoil. Is it challenging to find fresh ways to describe characters?

I have to not repeat myself and I’m never totally confident that I’m not doing that. I don’t have total recall on every word I’ve ever written. It’s work and it’s fun at the same time. I mean, I enjoy it when I come up with something like, “sleeping bag someone had stuffed with potatoes.” I don’t recall laboring long and hard over that one.

I’m very hesitant about talking about this, in a way, because it’s not something that I analyze while I’m doing it. It’s something that I look on retrospectively and try to find reasons for how I do what I do, whereas, in fact, in real life, I simply do it to the best of my ability and keep my fingers crossed.

Mick Herron’s Slough House novels. (Courtesy of Soho Press)

Q. The recurring character Peter Judd, an amoral political insider, might have at one time seemed a little buffoonish or over the top, but now seems like he could have a plausible career.

Yes, it is quite frightening the way that certainly over the past decade and a half, characters whom we might quite rightly have considered buffoonish when they first appeared on the political landscape are, in fact, as it turns out, very, very dangerous, very despicable, and are doing an awful lot of damage to our various Commonwealths. So yes, it gives me no pleasure to think that there was any prescience involved in creating a character like that.

Q. Your characters haven’t always survived in previous books. Do you plan that out ahead?

I don’t ever have a full plan in place for each book, but when I start writing a book, I vaguely know where I’m going. I have a few plot points along the way. The daily work is a matter of getting from one point to another, so that the plot moves forward. If the character is going to die, then I know that right from the start.

In a way, it’s all sort of one big exercise in self-justification: I decided this is going to happen, and therefore I’m going to make all the other things happen that will allow that to take place. I don’t take pleasure in killing characters off, but I feel that it would be untrue to the book that I have in mind, the shape of the book, the color of the book, if you like. I sometimes think of them in terms of colors. It would be untrue to that original impulse if I started saying, I don’t really want to do that; I’d rather not kill a character off. 

Q. You said you think about the books in terms of colors. Would you talk about that, please?

In the earlier days, I certainly did think of them in terms of colors. It’s a mood thing, really – and what kind of mood I was going to be in. Don’t ask me to say what they were, because I can’t remember, but I do know I felt it quite strongly. I haven’t done that so much lately, and it doesn’t seem to be a thing with me anymore.

Q. As you’ve been writing the series, have you developed a process for approaching each book?

It’s probably true that a lot of the, I don’t know what you want to call them rituals or superstitions, that are attached to writing a book, you could probably dispense with them, but they come to feel like scaffolding, in a way. You’ll know that my intros to a book are always the same for the Slough House series, and I would find it very difficult to write one of these novels without doing that. It would just feel wrong to me, you know? I could write a book and dispense with that structural element, but I feel that I’d be less confident about doing it. And I think readers might say, Hey, what happened to the intro?

Q. It’s a great device; it’s like you’re walking the reader back into the building.

I’ve always felt that way. It’s also like: New readers, start here. I don’t want to have to just explain what Slough House is in bare terms every time I start writing a book. I think it’s one of the reasons why people often say to me that the house itself has become a character.

Q. I hadn’t thought of that, but that’s absolutely true. You feel like you know that place.

The [Apple TV+] series has used the actual building – not the interior, that’s all built – but when you see an exterior on the TV show that is the building I walked past every day on my way to work. That is Slough House. And they didn’t have to do that. That really was the production team going the extra mile there.

Now everybody knows where it is, and anybody who’s interested can find it.

Q. Is it hard writing the series knowing that there’s a whole TV apparatus at work?

I don’t think it’s really had that big an impact on the books and the rest of it – the plots, the characters — I think they’re remaining the same. I’m not going out of my way to provide something that I think will be a stunning climax on a TV show or anything. I’m simply writing the book as it feels to me the book needs to be written. So I hope it has no effect at all.

But, of course, I mean, it almost inevitably does, I’m sure. I’m probably the last person to ask about it.

Gary Oldman in a scene from season 5 of “Slow Horses,” premiering Sept. 24, 2025, on Apple TV+. (Photo credit Jack English / Courtesy of Apple TV+)

Q. So Gary Oldman hasn’t overwritten your conception of Jackson Lamb?

No, I think I’m aware that there are now two Jacksons, really, because there’s mine, which is just on the page, and there’s Gary’s. And I think Gary is doing really interesting things with it. Gary has his extra insights. He spent, it must have been at least a year of his life, being George Smiley [in the 2011 film adaptation of John le Carré’s spy classic “Tinker Tailor Soldier Spy”]. And so he has the view that Jackson Lamb is George Smiley having made some wrong decisions, or something along those lines, which I think is really interesting. It’s not something I’m trying to do, but I think Gary has every right to incorporate that into his portrayal. He’s doing it wonderfully. I couldn’t ask for a better Jackson Lamb. I’m very, very happy with the way it’s turned out.

SEE ALSO: Meet the audiobook narrator who gives voice to Jackson Lamb and the Slow Horses

Q. Does it ever feel to you like this all one long book, like Patrick O’Brian’s many Aubrey-Maturin novels, divided up into individual installments? 

I hadn’t thought of it in those terms, but in a sense, yes, I certainly see what you’re saying, and I wouldn’t disagree with it. The O’Brian books, of course, are wonderful and essentially focus on a single relationship that develops, matures and deepens throughout the novels. And it’s a wonderful journey to be on. 

I like to put different characters in the same car every so often to see how they will end up arguing with each other, which they inevitably will do. For me, the books are all individual, and I need a beginning, a middle and an end. But yeah, I can see readers would feel that way. And again, I’m perfectly happy with that.

Q. Speaking of putting characters in cars: In “Clown Town,” you give us a kind of clown car moment at one point with nearly everybody stuffed into a vehicle together.

It was an image I couldn’t escape. I say I don’t write to images in my head, but the clown car is a pretty strong one, it has to be said.

Q. Let me ask about Mick Jagger, who performs the theme song for the Apple TV+ series. I read that he was a fan of the books. Is that true, and if so, will you be going out on tour with the Rolling Stones?

I was told that he’d read the books, so he knew what he was being asked to do, and was clearly enthusiastic about it because it all happened very, very quickly. By the time I was told about it, he’d already recorded the song, and so it was a done deal.

I haven’t met him, and we don’t currently plan to go on tour together, but I am touring. They might turn up to do a support gig, you never know. 

Wall Street slips as its relentless rally takes a breath

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By STAN CHOE, Associated Press Business Writer

NEW YORK (AP) — U.S. stocks are slipping on Monday as Wall Street lets off the accelerator for its seemingly relentless rally.

The S&P 500 dipped 0.2%. The Dow Jones Industrial Average was down 228 points, or 0.5%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.1% lower. All three set their latest all-time highs on Friday.

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It’s only a modest pullback when compared with the surge that stocks have enjoyed hitting a bottom in April. Driving the market have been hopes that President Donald Trump’s tariffs won’t derail global trade and that the Federal Reserve will deliver several cuts to interest rates that will boost the U.S. economy.

The Fed made its first cut of the year to rates last week, and officials indicated they could deliver more through the end of this year and into next.

“Every time the market seems to be running out of momentum, it fools most of us by pushing to higher heights,” said Jay Woods, chief market strategist at Freedom Capital Markets.

But the U.S. stock market still faces challenges. Chief among them is if the Fed does not cut interest rates as many times as investors expect. The Fed is wary because lower rates can give inflation more fuel, and inflation has stubbornly remained above its 2% target. An update on Friday will show how much prices are rising for U.S. households based on the Fed’s preferred measure of inflation, and economists expect it to show a slight acceleration for last month.

Plus, stocks already look too expensive to many professional investors after their prices surged so much.

Coinbase Global fell to one of Wall Street’s bigger losses on Monday with a drop of 3.8%. But it’s still up nearly 33% for the year so far thanks to interest for cryptocurrencies, whose prices have soared to records on expectations for more cuts to interest rates.

Some of the market’s sharpest action was among companies agreeing to buy one another.

Pfizer said it would buy Metsera and its pipeline of medicines to potentially treat obesity in a deal initially valuing it at $4.9 billion. The price tag could go up sharply, by nearly 50%, if Metsera’s candidates win approval from federal regulators and achieve other milestones.

Metsera’s stock jumped 60.7%, and Pfizer’s rose 1.2%.

ODP, which runs Office Depot and Office Max, leaped 33.2% after Atlas Holdings agreed to buy it in a deal valued at roughly $1 billion.

Anywhere Real Estate soared 61.6% after Compass said it would buy the company behind the Coldwell Banker and Corcoran brands in an all-stock deal. They said the combined company is expected to have a total enterprise value of roughly $10 billion, including debt. Compass shares edged down by 0.1%.

In stock markets abroad, indexes were mixed across Europe and Asia.

Japan’s Nikkei 225 jumped 1%, and Hong Kong’s Hang Seng fell 0.8% for two of the world’s bigger moves.

In the bond market, Treasury yields held relatively steady. The yield on the 10-year Treasury edged down to 4.13% from 4.14% on Friday.

AP Business Writers Yuri Kageyama and Matt Ott contributed.

The Fed cut rates. Will it help the housing market?

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The Federal Reserve voted Sept. 17 to cut the federal funds rate by one quarter of a percentage point. It was a move long anticipated by financial markets, and also by regular folks watching the housing market: Potential home buyers who’ve been sidelined by high mortgage interest rates and newer homeowners hoping to refinance their loans.

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How the Fed’s rate cut impacts mortgage rates

Here’s what the Fed’s latest move could mean for mortgage interest rates, home buyers and refinancers.

Mortgage rates have already dropped

The Fed uses a key short-term borrowing rate to influence the broader economy. Those changes don’t directly alter mortgage interest rates, and in recent cycles, rates have moved ahead of official decisions from the central bankers. Mortgage rates tend to take their cues from bond markets, and in the run-up to September’s meeting, average rates for 30-year, fixed-rate loans hit their lowest levels in nearly a year.

Afterward, mortgage rates rebounded a bit as markets worked through the news that came with the Fed cut. During his post-announcement press conference, Federal Reserve Chair Jerome Powell discussed the tension the current economy has created between the central bankers’ two key goals. The Fed aims to achieve “maximum employment,” and the weakening job market suggests lowering rates to give businesses a boost. But the bankers also want price stability, and an overheated rate of inflation could be cooled by raising interest rates.

By choosing to cut, the Fed governors basically decided that labor’s a more immediate threat. But in the press conference, Powell noted, “There are no risk-free paths now. It’s not incredibly obvious what to do.”

“Where mortgage rates are going to go is really dependent on the data that we get in the weeks to follow,” says Melissa Cohn, a regional vice president at William Raveis Mortgage. “There’s clearly no direction from Powell or from what the Fed has done today that says the rates are just going to march downwards.”

Maybe next year for home buyers

Since the pandemic dramatically altered the housing market, each new year gets touted as the year the housing market will finally normalize. As for 2025 … well, maybe 2026 will be the year. Rates may be lower, but mortgage interest rates aren’t the only thing holding back would-be buyers.

“Even though affordability had been improving a little bit in 2025, what really kept buyers on the sidelines this year was the frozen labor market,” says Orphe Divounguy, senior economist at Zillow. It’s not necessarily that people are buying (or not) because of a job change — but economic uncertainty can discourage making a major life decision like buying a home.

The dearth of buyers had listings gathering dust. Divounguy notes that in July, Zillow saw price cuts on 27.4% of listings — the highest percentage since data gathering began in 2018. “Sellers had come back in the spring, but then the buyers weren’t there,” Divounguy explains.

And by August, sellers were feeling the chill, too, dropping the number of new listings. Again, a seemingly weaker economy likely played a role: In a 2024 Zillow survey, 37% of sellers cited getting a new job as a reason for selling. “There was a window there for buyers that could afford to buy,” Divounguy says, but with sellers retreating, “that window, at least for 2025, seems to be closed.”

Confident buyers can certainly still take advantage of the current rate environment — but they should be aware that inventory may be limited, even for fall. Divounguy is hopeful that in 2026, “Fed rate cuts could thaw the labor market,” getting both buyers and sellers back in the game. A major rate-cutting cycle from the Fed would likely usher in lower mortgage rates, too.

The time is now for many refinancers

A substantial subset of current homeowners looking for rate relief are in better luck.

“We’ve seen mortgage rates in the past couple years approach as high as almost 8%,” so relatively new home buyers could be ready to refi, notes Danielle Hale, chief economist for Realtor.com. “Even earlier this year there was a period when rates were close to 7%. Now that they’re back under 6.5%, some people who bought as recently as this year may be in a position where refinancing makes sense.” For a refi to be worthwhile, you’d want to cut at least half a percentage point off your current rate.

Hale also points out that if you’re starting over with a new 30-year loan, you’re getting additional upfront savings. The longer term spreads your balance over more payments, bringing the monthly cost down (though at the same time, the total interest paid will be higher because it’s a longer loan). “If you’re refinancing for a cashflow reason and you don’t mind tacking a couple extra years onto the end of your loan, extending the term may not be a bad decision,” she says.

Refinance closing costs, generally 2% to 6% of the amount financed, are a consideration as well. Still, homeowners anxious to break free from a 7%-plus mortgage rate may decide that’s a price they’ll gladly pay.

But should you wait for rates to drop even lower? “We can’t get too greedy,” cautions William Raveis’ Cohn. “We’ve taken a big drop in rates over the course of the past month and we cannot expect it to continue at this pace.”

Hale concurs: “Even the best forecasters are still making an educated projection based on what we know today, and then the world can evolve in very surprising ways.”

Bottom line: If your refinance math looks good and you’re planning to stay in your home, this could be your moment.

Kate Wood writes for NerdWallet. Email: kwood@nerdwallet.com.

Putin says Russia will stick to nuclear arms limits for one more year after treaty with US expires

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By VLADIMIR ISACHENKOV, Associated Press

MOSCOW (AP) — Russian President Vladimir Putin said Monday that Moscow will adhere to nuclear arms limits for one more year under the last remaining nuclear pact with the United States that expires in February, and he urged Washington to follow suit.

Putin said that the termination of the 2010 New START would have negative consequences for global stability and could fuel proliferation of nuclear weapons.

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“To avoid provoking a further strategic arms race and to ensure an acceptable level of predictability and restraint, we believe it is justified to try to maintain the status quo established by the New START Treaty during the current, rather turbulent period,” Putin said in televised remarks. “Therefore, Russia is prepared to keep adhering to the central quantitative limitations of the New START Treaty for one year after Feb. 5, 2026.”

He added that “based on our analysis of the situation, we will subsequently make a decision on maintaining these voluntary self-restraints.”

He emphasized that Russia expected the U.S. to follow its example and also stick to the treaty’s limits.

“We believe this measure will only be viable if the United States acts in a similar manner and does not take steps that undermine or disrupt the existing balance of deterrence potentials,” Putin said.

Daryl G. Kimball, the director of the Washington-based Arms Control Association, welcomed Putin’s statement on X as “an important and positive move.”

U.S. President Donald Trump has said that he and Putin talked about nuclear weapons during their summit in Alaska last month. Asked to comment in July on a looming expiration of the New START, Trump noted “that is a big problem for the world, when you take off nuclear restrictions.”

Putin instructed Russian agencies to “closely monitor relevant American activities, particularly with regard to the strategic offensive arms arsenal,” with a particular emphasis on plans to “expand the strategic components of the U.S. missile defense system, including preparations for the deployment of interceptors in space.”

“The practical implementation of such destabilizing actions could undermine our efforts to maintain the status quo in the strategic offensive arms sphere,” Putin warned, adding that, in that case, “we will respond accordingly.”

He emphasized that Moscow’s honoring the pact’s limits could “make a significant contribution to creating an atmosphere conducive to substantive strategic dialogue with the U.S.,” provided that other efforts are also taken to normalize bilateral relations.

The New START, signed by then U.S. President Barack Obama and Russian counterpart Dmitry Medvedev, limits each country to no more than 1,550 deployed nuclear warheads and 700 deployed missiles and bombers. Its looming expiration and the lack of dialogue on anchoring a successor deal have worried arms control advocates.

The pact also envisaged sweeping on-site inspections to verify compliance, but they have been dormant since 2020.

In February 2023, Putin suspended Moscow’s participation in the treaty, saying that Russia couldn’t allow U.S. inspections of its nuclear sites at a time when Washington and its NATO allies have openly declared Moscow’s defeat in Ukraine as their goal.

At the same time, Russia has emphasized that it wasn’t withdrawing from the pact altogether and pledged to respect the caps on nuclear weapons set under the treaty and keep notifying the U.S. about test launches of ballistic missiles.

Putin’s statement comes at a time of heightened tensions between Russia and the West, fueling concerns that fighting could spread beyond Ukraine’s borders as European countries rebuked Russia for what they said were provocations. The incidents have included Russian drones landing on Polish soil and Estonia accusing Russian fighter jets of intruding into its airspace.

The Associated Press receives support for nuclear security coverage from the Carnegie Corporation of New York and Outrider Foundation. The AP is solely responsible for all content.