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

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This month of economic chaos will be a warning to any future British leaders about the risk of being reckless with the country’s finances, said UK traders after Prime Minister Liz Truss resigned.

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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