British prime minister Liz Truss is out after a shambolic six weeks. Her government was undone by a violent market reaction to its budget-busting proposal that sent interest rates soaring amid a selloff that, at first glance, looked like a classic example of capital fleeing a poorly run country.
- But as we've learned more about what was going on, it looks less like a standard emerging markets crisis and more like a complex series of events tied to U.K. pensions.
