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)

The bond market is in meltdown and you want to double down. Economists aren't the problem. The problem is the government wants to borrow extra billions and the market doesn't have confidenc… (View Post)