For someone who works in finance you’re a bit slow, arent you, Glad?
The Truss/Kwasi ‘spike’ didnt last long at all.
Debt levels were already soaring and it was at this time that Bailey and his cohort were already behind the interest rate curve; they were playing catch up.
The Ukraine/Russia conflict was the REAL catylyst for increasing UK govt debt levels, already inflated by the Covid handouts.
And today, the markets see NO signs of necessary action from current HMG to rein borrowing in.
It really is that simple.
“Simple” Glad.