The markets have delivered their verdict. They want Rachel Reeves, and no one else will do. If the chancellor needed saving, they’ve done the job, boosting her political clout in the process.
The events of the last 24 hours have been quite remarkable, almost on a level with the Truss mini-Budget, when the City’s appalled reaction resulted in the near collapse of several big pension funds, and ultimately led to the end of a premiership before a now-infamous lettuce had rotted.
