UK Not Alone in Risking Another ‘Liz Truss Moment,’ Ashmore Says

Countries such as UK that are running deficits and relying on financial markets to fund them are “definitely” at risk of another Liz Truss moment, said Mark Coombs, chief executive officer at asset manager Ashmore Group.

“One of the questions in the UK at the moment is that we’re about to get another one,” he said, referring to the market turmoil caused by the then UK Prime Minister’s new policies in 2022. “If you are a country that’s running deficits and relying on market access to do it, if you get a loss of confidence in your market, it doesn’t just reprice it. You get any kind of buyer’s strike in parts of the curve.”