FAST FIVE: Calling The UK An Emerging-Market Is No Longer A Joke 

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Calling The UK An Emerging-Market Is No Longer A Joke  By Sebastian Boyd, Bloomberg Markets Live reporter and analyst The UK's progression toward emerging-market status is moving so fast that it's hard to keep up.

Now the central bank is buying bonds.

Because the government wants to sell more of them to pay for the aforesaid fiscal policies.

In other words, the central bank will be financing inflationary government spending (that just happens to reward a core constituency of the new government).

Here's a chart of budget and current-account deficits for EM countries for which I was able to quickly find reasonably up-to-date data.

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