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In the most recent debate, she questioned the BOEвЂ™s handling of inflation. There are also concerns that Truss will pressure the central bank into shifting its strategy on interest rates and undermine its independence. вЂњA lot of the moves in the market have been driven by a general reluctance to own sterling credit risk, or frankly anything that has had proximity to the Russia situation,вЂќ said Harry Richards, a fund manager at Jupiter Asset Management in London. Spreads on pound-denominated corporate bonds have soared this year. The pound is already trading at its weakest level against the dollar since 2020, hovering under $1.20. Sunak: Where UK Leadership Contenders Stand on Economy But the election results could change all of that. Markets have so far been slow to react to the political turmoil engulfing Downing Street, and all the focus has been on the UKвЂ™s weak economy and slow approach to raising interest rates, compared with the US. вЂњSunak is the favorite of the market, the most sound, and that should be positive for the pound,вЂќ said Hense of Bluebay.

HeвЂ™s argued that tax cuts must be accompanied by cuts to government spending, and has stood for prudence with the public finances. Meanwhile, Sunak, the former chancellor of the exchequer, would bring more predictable policies. While the policy details are still vague, itвЂ™s a move that could put pressure on longer-dated bonds, according to David Parkinson, sterling rates product manager at RBC Capital Markets. TrussвЂ™s campaign has also hinted at paying off pandemic-related debt over a longer period as a way to manage the additional debt burden. вЂњPopulistic policies tend to be bad for the economy over the medium term and weaken the purchasing power of the people.вЂќ вЂњIf Truss was to win the leadership election, then the pound would react very negatively,вЂќ said Hense, a portfolio manager at Bluebay. Truss Went From Anti-Thatcher Protests to UK Tory Darling Investors also point to her tough stance on European relations and promise to review the Bank of EnglandвЂ™s mandate as other worries, though itвЂ™s unclear whether she would actually carry out these plans. Truss has made expansive tax cuts a cornerstone of her platform, which would imply big increases in UK borrowing. With Truss and Rishi Sunak as the final contenders in the race to lead the nation, investors are trying to grapple with how UK policy will change if either takes power. Bluebay Asset ManagementвЂ™s Kaspar Hense predicts the pound will drop 2% against the dollar if sheвЂ™s chosen as the next UK prime minister. (Bloomberg) - The radical economic policies backed by Foreign Secretary Liz Truss would set UK markets on a downward spiral, according to investors at some of the top asset managers.ДЄbrdn Investment Director Aaron Rock described her plans to aggressively ramp up government borrowing as the вЂњbiggest fearвЂќ for the gilts market.

, Photographer: Handout/Getty Images Europe (Photo by Jonathan Hordle / ITV via Getty Images) Britains Next Prime Minister: The ITV Debate will also be streamed live on ITV Hub, as well as through ITV.com/news, ITV News YouTube channel, facebook and on Twitter. ITV is the UKs biggest commercial broadcaster and the programme will give the audience the opportunity to get to know more about the candidates and help them decide who has the qualities to be our new Prime Minister. Each candidate will have the opportunity to make a closing statement. Taking place on the eve of the next round of voting, Rishi Sunak, Penny Mordaunt, Liz Truss, Tom Tugendhat, and Kemi Badenoch will debate the issues dominating the campaign. All five candidates have agreed to take part and over the course of the 60-minute programme, they will debate with each other in response to questions put by the host. At 7pm on Sunday 17th July Live on ITV, Julie Etchingham hosts an hour-long debate in London with the five Conservative Party leadership contenders, vying to become Britains Prime Minister.

#View market details hotkey eve free

LONDON, ENGLAND - JULY 17: (ONE MONTH FREE EDITORIAL USE NO ARCHIVING) In this handout image provided by ITV, Conservative leadership candidate Liz Truss speaks during Britain's Next Prime Minister: The ITV Debate at Riverside Studios on Jin London, England.