What time do you think Rachel will hand in her notice tomorrow?

[Neverendingwashingbasket]

I think if it's not in already tonight then it will be before 10am tomorrow.

Hear, hear.

But that isn’t what the crash in the UK bond markets meant. It’s ok not to know something, it’s not ok to keep pedalling lies because you don’t know something.

What do you mean? Labour is on a knife edge. The markets are watching the political push on spending.

Labour is in a precarious position.

It's pretty simple.

On Wednesday, when the markets thought there was speculation that Reeves might leave bond yields spiked. As in, the worry that Reeves might leave her position, meant the markets didn't have confidence in the UKs ability to meet its obligations.

On Thursday, after Starmer confirmed there were no plans for her to go anywhere, they fell again, reassured by her remaining in her position.

Yes it’s because Labour can’t spend and borrow more.

Their financial reality is precarious as the pp said.

Of course it isn't. Why would the ability to borrow and spend more change overnight. The only changing factor was the stability of Reeves' job.

It’s due to the fear that Labour with another chancellor, ie one to the left who would spend and increase debt.

That’s it, that’s the warning to Labour that they at the limit of borrowing right now.

Whether the MPs who rebelled get the message will make the next year interesting.

So Reeves is doing a good job in terms of keeping the debt under control...

The markets will react if she goes and someone else doesn’t. Because Labour are out of borrowing ability.

In terms of ‘good job’ it’s the high borrowing at the last budget that has put Labour in this position. She is responsible for that, it’s not just her though. Starmer mostly and others too.

Where it gets interesting is Rayner and / or rebel MPs demanding more spend and being able to hollow out bills on cuts.

Markets react to growth, not set it
Markets set government borrowing rates, that, with the exception of the Liz Truss debacle, have risen faster after her Commons appearance that at any time since 2008

Which bit of Liz Truss’s budget do you think caused it?

Or rather Kwartzing’s budget