LamieRobertson
Not awoke
Doing a great job of making annuities more attractive for anyone buying one for their pension nowShe’s doing a great job of reducing my pension
Doing a great job of making annuities more attractive for anyone buying one for their pension nowShe’s doing a great job of reducing my pension
Doing a great job of making annuities more attractive for anyone buying one for their pension
If Liz Truss were a Fast Show character...
Anyone know what's happened this morning? GBP has spiked sharply upwards (up roughly $0.7 in a very short time frame), and 10yr gilt yields have fallen back below 4.3% around the same time in a sharp dip.
Not seeing any headlines, so I'm assuming BoE might have triggered it with a big intervention this morning?
Edit: ahh, now seeing something else - from the Guardian: "ConservativeHome editor and former Tory MP, Paul Goodman, has said some Conservative backbenchers are considering pushing for Rishi Sunak and Penny Mordaunt to replace Liz Truss as prime minister."
I can see how growing rumours of a revolt in Tory ranks to remove Truss might cause the markets to react favourably.
Update on this. Looking like the markets got a sniff of something that's only just hitting the news:
1. Treasury is working on plans/options for a major u-turn on the mini-budget:
2. Some talk that Kwarteng might need to be sacked to rescue the situation in the polls.
GBP value has spiked again since the stories hit the press (up nearly 2 full US cents from where it was). And 10 yr Gilt yields now down to under 4.2% and did briefly dip to below 4.1%.
One has to wonder: deliberate leaks to test how the markets would react ahead of making an actual decision?
the king had found the crucial missing part of her brainWhy was she going to see him?
Tax to rise to a farthing in the groat with an extra bushel for every furlong you ride your Penny Farthing. Extra income made by sending preteens up chimneys and prison for anyone who doesn't tug their forelock when they are within 50 miles of him. "I know my place" badges to be distributed to non millionaires.I Kwarteng really is going to be sacked it had better not be that Ress-Mogg tool who takes over.
Debtors' prisons to come back.Tax to rise to a farthing in the groat with an extra bushel for every furlong you ride your Penny Farthing. Extra income made by sending preteens up chimneys and prison for anyone who doesn't tug their forelock when they are within 50 miles of him. "I know my place" badges to be distributed to non millionaires.
Plenty of time for KK to consider his position on that long flight back home. Let's hope he comes to the right conclusion!Latest from Kwarteng:
Asked whether Liz Truss will be prime minister next week and whether he will remain chancellor, he says: "Absolutely 100%, I'm not going anywhere."
So that's Bishops Move heading for No.11 next week...
Presume they will leave a quote at No.10 as well.