Nigel Green warns that a potential revision of the UK’s debt rules could spark investor backlash akin to the chaos following Truss's fiscal strategy, reflecting deep-seated market anxieties.
As gilt yields surge from 3.75% to around 4.2%, signaling reduced confidence, the implications of fiscal stimulus over sustainability weigh heavily on market sentiment ahead of the UK Budget.
Market turbulence is further echoed in currency exchanges, where the pound has weakened against the dollar and euro, driven by fears of increased UK borrowing.
In the wake of September’s concerning economic indicators, consumer confidence is faltering with the lingering effects of high interest rates, complicating the fiscal landscape for the Chancellor.
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