Why British bond yields are higher than elsewhere
Labour shoulders only some of the blame. But it cannot ignore the consequences
Rachel Reeves could be forgiven for dreading Labour’s party conference in Liverpool, which kicks off on September 28th. MPs will lobby the chancellor for money in November’s budget. Sweaty-palmed lobbyists will ply her over cheap prosecco, pleading against tax rises. But the crowd that most scares Ms Reeves will not be physically present at all. Bond traders will monitor events from afar, ready to push yields ever higher at the mere hint of fiscal profligacy.
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