The market moves are starting to gain traction and so is all the talk about the possible budget U-turn. So far, there is no timing on how all of this is going to play out so that is going to set up for very nervous and volatile trading over the next few days in UK markets. Bloomberg sources are now adding that no final decision will be taken until Kwarteng returns from the US.
The pound is also catching a further bid in a push to near 1.1300 before easing slightly now but still up over 1.4% on the day:
It's going to be a tough day in the battlefield to sort through this mess, especially with the US CPI data coming up as well.
