PsB
Citizen of Nowhere™
and the original article:Investors seem inclined to regard the UK Conservative Party as a doomsday cult, according to Paul Donovan, chief economist of UBS Global Wealth Management.
https://www.theguardian.com/busines...0891514fe7c5f9#block-63315ebc8f0891514fe7c5f9
https://www.ubs.com/global/en/wealt...s/paul-donovan/2022/mmt-takes-a-pounding.html
"Modern monetary theory has been taken into a corner by the bond markets and beaten up. Advanced economy bond yields are not supposed to soar the way UK gilt yields rose."
"Tax cuts are unlikely to give the UK a meaningful medium-term boost (the supply constraints in the UK economy are more about health and education). A short-term “sugar high” is likely but may be limited."