Markets & Finance
Britain learns the price of a budget nobody believed
The dramatic market retribution that greeted the British government's £45 billion package of unfunded tax cuts will stand as a classic demonstration of sovereign risk repricing in real time.
Explainer
How Britain's pension funds nearly broke the bond market
The sudden seizure of the UK gilt market in late September will be studied in financial history as an immaculate case study in leverage, liquidity, and structural blindness.
The euro falls below the dollar, and gas is to blame
When the single currency slipped below parity against the US dollar in late August, reaching depths not plumbed in two decades, foreign exchange desks attempted to frame the move as a conventional monetary divergence.
