Bond yields in the U.K. and U.S. skyrocketed to their highest levels since 2008 as the market lost confidence in governments’ ability to navigate a looming recession and digested sticky inflation data.
U.K. Prime Minister Liz Truss resigned Thursday after just 44 days in office, partially due to pushback from her widely panned plan for the economy and, though she had the shortest tenure for a British prime minister ever, she did manage to make her mark on markets by shaking investor confidence at home and across the pond.
Truss formerly served as the U.
