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"It Looks Like A VaR Shock To Me": Gilts, Pound Crash Amid Panic Over Unsustainable UK Deficit
"It Looks Like A VaR Shock To Me": Gilts, Pound Crash Amid Panic Over Unsustainable UK Deficit As we warned yesterday in our review of the just announced UK Budget (see "UK Gilt Yields Soar After Reeves Reveals Budget: Market Braces For Inflationary Debt Surge"), debt has always been the UK’s Achilles’ heel. That's because "while the US has the world’s reserve currency, the UK doesn’t have that privilege, only an ability to print as much of a currency that fewer and fewer pe
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