Reported 26 days ago
UK bonds, stocks, and the pound faced a significant decline as investors reacted negatively to Chancellor Rachel Reeves' budget, fearing increased borrowing and potential inflation. The selloff led to a spike in borrowing costs, with short-term yields rising to their highest levels since May. While the Labour government aims for fiscal prudence, the market remains apprehensive about the implications of the announced spending measures. Reeves is now under pressure to reassure investors as UK assets experience turbulence.
Source: YAHOO