Events in the UK are moving quicker than anybody can possibly keep up with. No sooner have words been written and published than they become almost instantly out-of-date.
The term ‘unprecedented’ gets used a lot at the moment but the events of this week truly are remarkable- you’d have to go back to the 19th century to see this level of chaos.
The markets took a positive reaction to the news yesterday that Liz Truss had resigned as PM. However we’re currently left in a holding pattern, with a new PM potentially in office as soon as Monday evening.
Unless the Conservative Party can rally around a non-divisive unity candidate, the chaos will without doubt continue and the markets will be tipped into real turmoil once again. All we can all do is hope that over the next 48 hours, a name emerges that everyone in the Conservative Party can support.
It’s been a pretty poor week in terms of economic data too, we saw UK inflation rise again to 10.1% and this morning we saw figures released that showed retail sales were down and government borrowing was up.
We all await the results on Monday and hope that we will start to see some stability return.
