Morning Call: Is Reeves facing a Truss moment?
The bond market may look menacing, but the Chancellor must face it down.
Good morning, Will here.
Like an XL Bully on fireworks night, the bond market is heavily muscled, jumpy and looks ready to kick off. The government borrows money from the market by selling bonds, known as gilts, and the yields (the borrowing cost) on gilts have been climbing in anticipation of Rachel Reeves’ upcoming Budget (30 October). The “spread…
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