Business Maverick: ‘Markets Are Calling the Shots:’ UK Traders React to Truss Exit

In interviews on Thursday, many investors predicted that the next prime minister will restore calm and make policy decisions that bring stability back to markets.

Some traders said markets will be volatile until a replacement is named, and any new leader will struggle to fix the UK’s weak economy and double-digit inflation. Candidates to replace her are likely to include former Chancellor of the Exchequer Rishi Sunak — runner-up to Truss in this summer’s leadership contest. Other contenders then are also likely to be in the fray, including Penny Mordaunt, Grant Shapps and Kemi Badenoch.Robert Alster, chief investment officer at Close Brothers Asset Management:

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A market rebellion forced the UK to scrap its economic growth plan. It's a warning for global leaders. | BusinessinsiderThe ferocious market reaction to UK Prime Minister Liz Truss' aggressive tax-cutting plan has forced her to ditch most of her proposals and fire her finance minister, Kwasi Kwarteng – all in the space of only a month. | BISouthAfrica BISouthAfrica Poor African 🤷‍♂️
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Business Maverick: Stocks mixed as US futures climb and pound Advances: markets wrapStocks were mixed in Asia and US equity futures climbed as traders assessed prospects for earnings growth against a backdrop of rising interest rates.
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