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Kwasi Kwarteng outlined a plan for tax cuts alongside an energy bill bailout, funded by a large increase in government borrowing. UK mortgage markets have frozen, pension funds have sold gilts, and corporate borrowing costs have jumped.
Gilt and sterling turmoil is a macro financial shock that can strengthen the dollar and weigh on dollar-denominated commodity demand, with broad risk-off pressure on feed-related prices.
reuters.comAndy BruceSep 28, 2022After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
