, is trying to halt a bond market rout that has raged since Sept. 23 when the government announced a string of unfunded tax cuts.
"Gets what needs to be done and is acting fast. Surprising markets positively on the upside with an early statement to House of Commons today is a wise move. Message is ‘we get what needs to be done and it’s being sorted'." Hunt faces another test of his attempt to stem the crisis of confidence at 8 a.m. when the bond market reopens and will not have the support of the BoE's emergency bond-buying programme that expired on Friday.
"There is one thing we can do and that's what I'm going to do, which is to show the markets, the world, indeed people watching at home, that we can properly account for every penny of our tax and spending plans."