Fiscal risk for the UK and the prospect of a fiscal event

On this week's markets roundup, Merryn Somerset Webb and John Stepek dive into the surging precious metals market — from gold’s decades-long shine to silver’s sudden rally — and what the “debasement trade” says about global confidence in fiat currencies. They unpack investor psychology, fiscal risks facing the UK, and why even major institutions are rethinking the classic 60/40 portfolio. Plus, a discussion on stamp duty and whether cutting it could truly revive Britain’s housing and equity markets.

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