More Support For Liz Truss’s Contention That Market Turmoil Following Mini-Budget was Partly Due to Incompetence of Bank of England

Liz Truss’s efforts to divert the blame for her downfall from her mini-Budget to the Bank of England has received support from some unlikely quarters in the past few days.

If you want a refresher on the role of the Bank of England in creating the market turmoil that followed the min-Budget, this piece by Jon Moynihan, published yesterday in CapX, is well worth a read. It includes a crash course in Liability-Driven Investment funds, which were at the root of the precipitous rise in bond yields that ultimately did for Truss.

Continue reading at The Daily Sceptic. 

Featured image, Prime Minister's Office, OGL 3 <http://www.nationalarchives.gov.uk/doc/open-government-licence/version/3>, via Wikimedia Commons.