global market ?

Q: How important is what’s going on in the UK for global markets?

A: The backdrop here is just to understand that for investors, the storm that has been 2022 thus far, the dominance of macro imperatives across all assets, has really been unprecedented. And it really goes back to this idea that after 25 years of quiescent inflation, we had a breakout in the readings. That’s now been over a year and obviously really feeding into the Fed’s imperative to get inflation under control by going on this unprecedented degree of hiking. We think about the current status as something from that movie “Super Size Me.” You’ve done three 75 basis-point supersized rate hikes; you might do a fourth in November.

This is the kind of rapid acceleration and tightening that reverberates across the globe. The conduit has really been the strength in the dollar feeding into the UK. You’ve had a leadership change, the queen’s passing, a new prime minister, a new government -- just total huge challenges in a market that had already been showing strains, frankly, since the Brexit vote in 2016. So really, testing the outer bands of volatility across every asset that’s in the UK.
Bloomberg