Ahead of the spring statement, the pound is falling and GBPUSD is below $1.29. UK bond yields also falling.This is a sign that spending cuts could be bullish for the uk bonds and bad news for the pound.
There are very few spending increases that are expected to be announced today, bar some small spending pledges for homes and technical colleges. If October was the Budget of tax rises, then this is the Budget of spending cuts. The balance between taxes and spending plans have, so far, been absorbed by financial markets well. But will it stay this way?
Join Kathleen and find out.
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