UK goes all in The UK bond market fell off a cliff with 5 year yields shooting straight past 4%. Sterling fell to 40 year lows too, just to make sure foreign investors took a proper pummelling. The Chancellor then jumped on the Sunday morning TV shows promising more of the same, prompting further collapses on Monday. A 98 basis point sell off in two days, an all-time record; which is saying something, because the UK has had a crisis or two over the years.
Betting the house
Betting the house
Betting the house
UK goes all in The UK bond market fell off a cliff with 5 year yields shooting straight past 4%. Sterling fell to 40 year lows too, just to make sure foreign investors took a proper pummelling. The Chancellor then jumped on the Sunday morning TV shows promising more of the same, prompting further collapses on Monday. A 98 basis point sell off in two days, an all-time record; which is saying something, because the UK has had a crisis or two over the years.