LiveSquawk(@LiveSquawk):The market gave Reeves the benefit of the doubt on the spring statement despite no growth measures. That patience is unlikely to hold for a second budget with heavy tax increases and spending cuts, and still nothing on growth. You cannot squeeze fiscal headroom out of a half-squeezed orange. Short sterling, long EUR/GBP, adding to the budget.

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LiveSquawk@LiveSquawk

2026.09.04 19:03

The market gave Reeves the benefit of the doubt on the spring statement despite no growth measures. That patience is unlikely to hold for a second budget with heavy tax increases and spending cuts, and still nothing on growth. You cannot squeeze fiscal headroom out of a half-squeezed orange. Short sterling, long EUR/GBP, adding to the budget.