It was hoped manifesto-breaking tax rises might bring down borrowing costs – but party turbulence is likely to spook investors
There is one narrow, perilous route by which Rachel Reeves can successfully deliver her 26 November budget, and it runs right through government bond markets.
But the current outbreak of Labour infighting – driven by a flurry of pugilistic briefings from inside No 10 – risks cutting that route off with two weeks still to go before budget day.
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