Market reaction to UK Prime Minister resignation
Commenting on the resignation of the UK Prime Minister Liz Truss, RLAM Head of Multi Asset Trevor Greetham said:
"Market reaction to Liz Truss’s resignation has been very muted. It isn’t a great surprise and most of the planned tax cuts that upset the bond market were abandoned when Jeremy Hunt took office as Chancellor.
"The best outcome for markets would be a rapid rallying of the parliamentary Conservative party around a single candidate who would validate Hunt’s approach and the timing of the 31 October report from the Office for Budget Responsibility."
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About Royal London Asset Management (RLAM):
Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
RLAM manages £150 billion of assets as at 30 June 2022. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.
For professional clients only, not suitable for retail investors.
Issued August 2022 by Royal London Asset Management Limited, registered in England and Wales number 2244297; authorised and regulated by the Financial Conduct Authority. Registered Office: 55 Gracechurch Street, London, EC3V 0RL.
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