Brown ‘Terribly Fragile’ After Bond Auction Flops

“Brown’s strategy now looks terribly fragile,” said Mark Wickham-Jones, a professor of politics at Bristol University. “His situation is economically extremely uncertain, politically risky and this auction again highlights how we are now in un- chartered territory.”

The Treasury yesterday tried to sell 1.75 billion pounds ($2.6 billion) of 40-year gilts and got 1.63 billion pounds of bids, a sign that investors are reluctant to finance his record borrowing.

…..hmmmmm…….Coming soon to a theatre near you?…..

Thank you again. The more this problem gets run through my cognitive grinder the more sense it eventually makes.