Truss Warns UK Bond Market Sell-off Could Trigger Emergency Cuts

Former UK Prime Minister Liz Truss stated that the surge in global government bond yields is due to high national debts and currency devaluation, with the UK being one of the most at-risk major economies. She pointed out that the Bank of England's quantitative easing has led to currency dilution, causing borrowing costs in the UK to rise significantly among major developed economies, with the 10-year government bond yield reaching approximately 5.2% and the 30-year yield nearing 6%. Truss warned that without accelerating economic growth through supply-side reforms and controlling spending, the UK may be forced to implement mandatory emergency spending cuts. Meanwhile, the yield on the US 10-year government bond has risen above 4.8% again, and gold and Bitcoin have retreated from their previous highs after significant gains.

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