FTSE 100 index has 10,000-point mark in sight after hitting new high – business live
Rolling coverage of the latest economic and financial news, as UK’s blue-chip share index moves closer to the 10,000 point markThe pound has dipped against the US dollar this morning, as traders ponder whether Keir Starmer could face a leadership challenge after the budget.Following last night’s reports that Starmer’s most senior aides fear he could face an imminent leadership challenge, sterling has dipped by a quarter of a cent to $1.3125.Markets won’t care that fiscal headroom is being built by tax hikes if the Chancellor and PM cannot survive.Instability with the politics means fiscal instability, which means market instability re gilts - perhaps baking in a premium for an even more left-leaning, tax-and-spend government...we are heading to a fiscal showdown and political crisis that will show up in volatility in gilts and sterling – potentially a serious wobble in the pound if gilts run. Continue reading...
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Rolling coverage of the latest economic and financial news, as UK’s blue-chip share index moves closer to the 10,000 point mark
The pound has dipped against the US dollar this morning, as traders ponder whether Keir Starmer could face a leadership challenge after the budget.
Following last night’s reports that Starmer’s most senior aides fear he could face an imminent leadership challenge, sterling has dipped by a quarter of a cent to $1.3125.
Markets won’t care that fiscal headroom is being built by tax hikes if the Chancellor and PM cannot survive.
Instability with the politics means fiscal instability, which means market instability re gilts - perhaps baking in a premium for an even more left-leaning, tax-and-spend government...we are heading to a fiscal showdown and political crisis that will show up in volatility in gilts and sterling – potentially a serious wobble in the pound if gilts run.
Continue reading...
