How politicians should talk to bond markets
It might be annoying that money is not free but a combative approach with investors is not a great choice
It might be annoying that money is not free but a combative approach with investors is not a great choice

Investors’ first duty is to their stakeholders, not to politicians trying to fund spending and infrastructure

Political pressure in response to public anxiety will demand policy responses

Westminster struggles to talk seriously about most topics and in particular about the economy

Instant ability to trade tempts many to make bad decisions

But it relies on a host of rosy assumptions going in investors’ favour

Gilt market players call on government to cut spending and steer clear of inflationary tax rises