As Truss heads for crucial Monday, signs are that U-turns will not be enough

Jeremy Hunt is trying to reassure hedge funds but UK's reputation for political stability has been shredded

The markets have tasted blood and are eager for more. Liz Truss has sacked Kwasi Kwarteng as chancellor and ditched another piece of the mini-budget announced less than a month ago, but she now faces another week in which financial turmoil and political intrigue create a toxic mix.

Monday will be a crucial day for the prime minister. If sterling heads towards parity with the dollar and rising bond yields put upward pressure on mortgage rates, Truss may soon be handing in her resignation to King Charles.