Pound collapses, bond yields soar, echoes of 1976 crisis. Gold hits all-time highs in GBP.

UK. Pound collapses. Bond yields soar.

No one resigns.

Britain's Bond Turmoil Invokes Memory of 1976 Debt Crisis.https://t.co/VUYnXhYiNB pic.twitter.com/eVCX6gaoXq

— Daniel Lacalle (@dlacalle_IA) January 9, 2025

Britain’s Bond Turmoil Invokes Memory of 1976 Debt Crisis
Soaring yields prompt some comparisons with Truss debacle
But the economy’s woes may be more similar to IMF bailout era

https://www.bloomberg.com/news/articles/2025-01-09/uk-bond-turmoil-gives-labour-nightmare-of-britain-s-1976-debt-crisis?embedded-checkout=true

Gold in British Pounds ALL TIME HIGHS – From the major breakout, I suggested gold would 'double, then double again' (as a minimum). It has now doubled. Gold in US Dollars will (in my view) do the same from the breakout we had at $2000 ($4000 then $8000). pic.twitter.com/ojx85RpCo4

— Northstar (@NorthstarCharts) January 8, 2025