Reeves Tax U-Turn Fuels Budget Jitters, Bitcoin’s Bear Market | The Opening Trade 11/14

UK markets were plunged into fresh volatility on Friday as speculation about the budget heightened uncertainty over the nation’s fiscal position. First, government bond yields jumped the most since July, and the pound and FTSE 100 stock index slumped, after overnight reports that Chancellor of the Exchequer Rachel Reeves was dropping plans to raise income tax. The moves pared after Bloomberg News reported that improved UK forecasts were behind the move.

The crypto market remains under strain after $19 billion in liquidations on Oct. 10 in turn erased over $1 trillion from the total market value of all cryptocurrencies, CoinGecko data shows. The liquidations keep coming, with more than $1 billion worth of leveraged crypto bets wiped out in the past 24 hours, according to CoinGlass data.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Guy Johnson and Kriti Gupta.

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