Welcome to the award-winning Money Distilled newsletter. I’m John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money.

Here in the UK, everyone is suffering from a touch of pre-Budget nerves. Chancellor Rachel Reeves won’t actually be standing up to deliver (any highway robbery allusions you read into that phrasing are unintentional, and clearly the product of your own pre-Budget nerves) until November 26th. And that’s a void that will be filled with endless policy speculation.