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The baby bears are coming to Mama.

Investors ditched U.K. bonds amid a rise in expected government debt. Paul Johnson, director of the Institute for Fiscal Studies, said markets appeared “spooked” by the scale of the “fiscal giveaway,” and said it represented the highest level of tax cuts in half a century.

Yields on 2-year U.K. government bonds hit their highest level since October 2007, and 10-year yields reached the highest level since 2010. Yields move inversely to prices.

The 10-year yield was set for its biggest daily rise since 1998, Reuters reported. At 1:45 p.m. it had risen 26 basis points to 3.759%.

#UK #bond

Dow drops 300 points, breaks below 30,000.

#US #market #opening

Russians Gather for Massive Pro-Referendum Demonstrations

Thousands of Russians across the country have gathered for demonstrations in support of the new regions possibly joining the country.

Today through September 27, Zaporozhye and Kherson regions, as well as the LDPR breakaway republics, are holding referendum votes on potentially ascending to the Russian Federation as subject states.

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People are being forced to dance in Kherson