Reeves avoids major fiscal risks – NOMURA
Chancellor Reeves sidestepped the biggest fiscal dangers, delivering limited near-term tightening while preserving headroom through backloaded tax hikes, NOMURA’s FX analyst Dominic Bunning reports. GBP shorts face near-term squeeze “Chancellor Reeves avoided the major tail risks that we were worried about. Limited near-term tightening but larger fiscal headroom (via backloaded tax hikes) seems to be amongst the ‘least bad’…











