this is partly true, Swale in that everything is speculative but the facts remain that the budget will need to be reconsidered and one of two planks - tax or borrowing will need rethinking to cover the 5 billion U Turn on welfare cuts. That bit is real - the speculation is how that rebalancing is achieved which is what causes unease and volatility in the capital and exchange rate markets - more so the former. Yes the markets usually settle back down - it eventually did post Truss, albeit with a resultant hike in interest rates (which was going to happen anyway) that has yet to fully go away. Trump's tarriff impact was even more ephemeral and markets have already bounced back to higher levels than pre tarrif imposition.