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4min chapter
Britain's Economic Freefall
Ones and Tooze
What's the Nature of the Panic?
Sterling has fallen by 10 to 15 per cent in the last month. The fall is being closely associated with spasms in the government bond market, says John Defterios. It's a worrying sign when that happens because it can become self-reinforcing and make investors opt out of bonds altogether. We are talking about privatized pensions as being a driver but if you'd ask people six months ago they wouldn't have put their hands up for financial stability regulation world wide.
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