Don't hike into a supply shock | The Bank's 5 November call, France's spread and a UK bond crisis
Gilt yields hit their highest since 1998 this week, and markets expect the Bank of England to raise rates on 5 November. Marcus Ashworth and Michael Brown join Damian Pudner, Director of the Great British Think Tank, to ask what is driving the bond sell-off: forced sellers and a buyers' strike, or years of government overspending. They cover France's widening spread and who would rescue it, whether Britain needs a bond crisis to force fiscal repair, why a rate rise into an energy shock is the wrong policy mix, the 28 October Budget, and the US deal with Russia on diesel exports.
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