New government already discredited. Massive rate rise. Risk of bankruptcy of UK pension funds. Fall of the pound.180 degree turn in monetary policy. Stability of real estate prices. Limited shock to equities.

Key points

• The new British government announces a “mini-budget” that causes chaos
• UK economy still in overdrive in Q3?
• Leading indicators still indecisive
• Slight drop in tension in the labor market
• Household confidence falls to historic lows
• Prices could coutinue to rise by up to +13%
• The BoE intervenes massively in the emergency with a £65 billion support plan
• British bond market goes up in flames
• The “mini-budget” ends the pound
• First signs of house price decline
• Limited shock for UK equities

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