The British press is in a tizzy, but not over the gilt yield curve or the latest inflation figures. No, the frenzy is about Taylor Swift's alleged wedding plans. Speculation is rampant that the pop superstar is set to marry her British beau, Joe Alwyn, in a lavish ceremony that has fans and tabloids alike in a fever pitch.
But as a financial editor who has seen markets swing on less, I find this obsession with celebrity nuptials a bit rich. It is a classic case of the public being distracted from the real news: the economy is in a precarious state, with inflation still stubbornly high and the Bank of England reluctant to raise rates. Meanwhile, the government continues to spend like a drunken sailor, and capital is fleeing the country at an alarming rate.
The Swift wedding story is a shiny object, a diversion from the hard truths we need to face. So while the masses obsess over a private ceremony, I'll be watching the bond market. Because in the end, love is fleeting, but debt is forever.
