Rolling coverage of the latest economic and financial news, as economists predict that Wednesday’s sell-off has strengthened Reeves’s positionNo 10 defends chancellor after day of bitter recriminations over welfare bill fiascoYesterday: UK bond yields rise sharply amid speculation over future of Rachel ReevesThe boss of Currys, the UK’s biggest electrical goods retailer has urged the government not to increases taxes for retailers this year, warning it would “further dampen investment and increase prices.”Reporting a 37% jump in pre-tax profit to £162m in the year to 3 May and the revival of dividend payment to shareholders after two years as sales rose 3% to £8.7bn, Alex Baldock, the chief executive of Currys said:“We urge government not to make a further contribution to the tax burden as that would further dampen investment and increase prices in an inflationary way. I would urge government ot think very carefully before making the situation worse.”Despite the backing from the PM, or perhaps because of it, the question for investors right now is: will she leave? The market reaction should proclaim that she is required at No11 to avert a market response that delivers a death blow to the government; the prime minister is now giving her his full backing.The PM can’t control his backbenchers, but maybe the bond ma