Prime Minister Liz Truss is under immense pressure to rethink her economic policies as opinion polls show support for her government has collapsed.
Meanwhile, long-dated U.K. government bonds — known as gilts — rallied on Friday morning, with 30-year yields trading at 4.38%.
Last week, Kwarteng reversed a plan to scrap the top 45% rate of income tax paid on earnings above £150,000 a year. Downing Street and the Bank of England have taken steps to try to reassure financial markets throughout the week, albeit with limited success.
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