ALEX BRUMMER: The truth is that when the bond markets go through a volatile period - as they are now - every one of us feels the impact.
The bond markets might feel remote from ordinary life — and inscrutable to all but the City's brightest minds.
President Joe Biden speaks during an event on the economy, from the South Court Auditorium of the Eisenhower Executive Office Building When, last September, Truss and Kwarteng spooked the markets by promising Britain's biggest tax cuts since the 1970s — all paid for by huge Jeremy Corbyn-style borrowing — the bond markets understandably took fright.
When, last September, Truss and Kwarteng spooked the markets by promising Britain's biggest tax cuts since the 1970s — all paid for by huge Jeremy Corbyn-style borrowing — the bond markets understandably took fright But if you thought these rates were about to fall to the comfortable levels we saw a couple of years ago, when you could fix your mortgage at 1 or 2 per cent for five years or even more, then think again.
Since taking office, the octogenarian premier has been on a fiscal spree like no other recent administration. President Joe Biden is a big spender — an approach that has found support over here from progressives such as Shadow Chancellor Rachel Reeves and Sir Keir Starmer's Labour Party, but which has continued to unnerve the markets
As a result of all this largesse, America's national debt has soared by $1.6 trillion to $33 trillion just in the six months since April.
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