There needs to be some stabilization in the bond market before we get any kind of sustainable rally in risk. That's particularly true in the UK, where the bond market has imploded since the budget.
Kwarteng continues to double down on a program of even more tax cuts in his rhetoric and I don't think the market likes the sound of that.
In the pst few minutes, Gilt yields have reversed today's decline and are now above yesterday's high.
Watch GBP and watch if this spreads.
