Budget falls, bond yields rise
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•Markets hostile to Reeves's budget - but we're not in crisis territory yet
72% Informative
The pound has fallen sharply and gilt yields - the interest rate paid by the government - have risen sharply.
That's precisely the opposite market reaction to the one chancellors like to see after they commend their fiscal statements to the house.
The new government just committed itself to considerably more borrowing than its predecessors.
And that money has to be borrowed from someone - namely, financial markets.
Financial markets are now reassessing how keen they are to lend to the UK .
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