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The Guardian - UK
The Guardian - UK
National
Jasper Jolly

‘A bit of a relief’: a City trading floor reacts to Reeves’s budget

Saxo Bank trading floor: two men sit in front of a series of screens flashing financial figures with a TV screen on the wall; one has headphones on and  appears to be biting his nails while the other, who has collar-length hair and a thick, dark moustache, is looking intent
Financial traders at Saxo UK found ‘no great stinging surprise that has upset markets’. Photograph: Sean Smith/The Guardian

As financial traders milled around 26 floors up in a tower in the Canary Wharf district of London, there was little sign of nerves ahead of Rachel Reeves’s second budget – until the surprise accidental early release of the government’s official economic analysis started to move markets.

Headline numbers from the Office for Budget Responsibility (OBR) flashed through on banks of computer screens, followed shortly by the detailed analysis itself.

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