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Investors say decision marks ‘babiest of baby steps’ in restoring UK fiscal credibility
With the Conservative party locked in a stand-off with the bond market, Liz Truss’s political capital is crumbling
Plus, UK pensions, Hong Kong stocks, CEO narcissism, UK shares
UK currency remains about 9% lower for the past three months
Fallout from the UK’s ‘mini’ Budget widens from property and mortgages to pensions and investments
Master troll, or pot calling kettle black?
The UK market panic reveals more about challenges to monetary than fiscal policy
What the government and Bank of England need to do now before the situation gets even more problematic
Turmoil will translate into real pain for many businesses, homeowners and anyone on a tight budget
Our two cents (/pence)
Chancellor tells top bankers he is ‘confident’ his strategy will work and remains committed to bringing down debt
Recent tumble has left sterling matching year-to-date losses of Japan’s yen
The Bank of England does not have a lot of options
Virgin Atlantic chief urges Liz Truss to reverse course on mini-Budget tax cuts
Computer-driven traders have also gained from strong selling in UK currency
Sterling falls below $1.07 despite central bank and government reassurances about interest rates and stable finances
Raphael Bostic from Atlanta branch raises ‘uncertainty’ after pound hits record low against dollar
Plus, the seven economic wonders, TikTokpreneurs and cryotherapy
Market sell-off on ‘fiscal event’ was as bad a verdict as any chancellor could fear
Rather than blaming hedge funds or the strong dollar, look to the woefully misnamed ‘mini-Budget’
Recent falls represent the perception of a problem with the UK’s currency rather than simply US dollar strength
Interest rate rises also weighing on industries such as housebuilding
Sterling is having another special one
Tory MPs and traders braced for further market volatility after UK chancellor insists ‘more to come’
Risk of further falls in sterling as fund managers asked to soak up billions more in public debt
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