Truss Resigns as UK Premier After Tax-Cut Backfire
Bloomberg Businessweek
00:00
What's Going on in the UK?
Prime Minister Liz Truss resigned after 20 minutes, which is never a good look. The most surprising news event of the day for me was Boris Johnson might throw his hat in the ring. I have this image of Boris when he was mayor of London on that zip line with the two British flags. What went wrong? Ideology. You don't get to decide what the bond markets think. That's the whole point of the bond market. And if there's something about Brexit, it's democracy and populism. So I don't know if that's quite going to work.
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