We all thought the 2022 Conservative conference might end up being a make-or-break moment for the Prime Minister. The surprise is that it's Boris's replacement, rather than Boris, that has … (View Post)

The government sidelining the OBR was a fundamental mistake when announcing widespread tax cuts and spending increases. It removed all credibility from the package and so ruined any chance of it succ… (View Post)

To repeat what I said yesterday evening: "Report from the gilt market... The fall in prices has created a lot of forced sellers, as pension funds bought government bonds using leverage. That nee… (View Post)

Report from the gilt market... The fall in prices has created a lot of forced sellers, as pension funds bought government bonds using leverage. That needs to be collateralised daily and the speed and… (View Post)

The government placing a massive gamble on unfunded tax cuts with no OBR oversight = putting house on black. The bond market losing faith in government and refusing to lend what they have asked for =… (View Post)