And the next government will be…….a Tory-bond market coalition?
The bond markets have given a clear indication that, whoever wins the election on Thursday, it’ll be them looking to form the next government anyway.
What other explanation can there be for the decision to open trading at 1am on Friday 7th May? (major h/t: Left Outside)
Government bond markets will for the first time open at 1am on the morning after the general election to allow traders to buy and sell gilts as results flow in.
With expectations rising that the election will be the closest race since the 1970s, the London International Financial Futures and Options Exchange (Liffe) will on Friday open three hours after the polls close to give traders the chance to sell government bonds in the event of a hung parliament or buy should Labour or the Tories surge to a convincing victory.
So the bond markets are getting ready to tell anyone ready to form a hung parliament that they’re only allowed to do so if they really, really slash spending in a way which may not actually make any economic sense in itself, but which keeps the markets in control.
They’re even prepared to say up all night to get the message across.
Perhaps they’ve even been working out these steps with the Tories to strengthen the Tories’ hand if it’s seeking to override constitutional guidance and seize the keys to No. 10.
Well that’s democracy I suppose.
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