Remember when gilt rates spiked and Rishi and the media said Truss and Kwasi had crashed the economy? Two-year gilt yields rose 0.18% to 4.81% this morning, compared with their peak of 4.64% in the aftermath of the “mini” Budget in late September. Yields on gilts with longer maturities are also approaching last autumn’s levels. The two-year gilt rate off which typical two-year fixed-rate mortgages are priced are higher today and nobody seems bothered; no headlines, no apocalyptic pronouncements in the FT. Last night the Chancellor promised tax cuts are coming, and nobody said it was reckless this morning!