Reported 20 days ago
UK borrowing costs surged back to levels last seen post-budget announcement, reflecting persistent investor unease over government spending plans and the US presidential election's impact. The yield on 10-year gilts rose to 4.53%, indicating strong market concern regarding potential inflation and interest rate decisions by the Bank of England. The recent auction of gilts experienced the lowest demand in nearly a year, amplified by fears that current fiscal policies may not be effective, leaving investors cautious ahead of the closely contested US election.
Source: YAHOO