Gilts in freefall and sterling dives as Chancellor spooks investors

The new government of Liz Truss, with Kwasi Kwarteng as chancellor, has spooked investors with more than £70bn added to UK borrowing in the next financial year.
UK government bonds are in freefall following Chancellor Kwasi Kwarteng’s mini-budget, with promises of sky-high spending and sweeping tax cuts spooking investors. Five-year gilts are on track for a record one-day drop, with yields jumping 50 basis points, while two-year... Read more