What's the state of the UK economy now?
Good old Rishi.
He's just come out with his budget for the next fiscal year.
Basically all the headlines are going to be filled with talk of cutting booze taxes (great) and not much else I reckon.
It was rather underwhelming; there could have at least been some fireworks.
Here's the state of play right now, and I'll demonstrate this by looking at the move on the 10y Gilt.
Post budget, we've seen the largest move since March 2020 (Gilts up, yield down).
My initial take here is that the market is pricing in some flatter growth and inflation concerns
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