UK Bond Vigilantes Send Reeves a Reminder That They’re Watching
- UK bonds flipped to losses on inflation and BOE rates fears
- Jittery markets show investors are nervous on fiscal outlook
Rachel Reeves presents her budget plan to the House of Commons in London, on Oct. 30.
Source: House of CommonsThis article is for subscribers only.
As UK Chancellor Rachel Reeves wound up her key budget speech, bond traders seemed content.
But within minutes of Reeves’ presentation to the UK Parliament — aimed at demonstrating a tight grip on the nation’s finances, while finding money to invest — benchmark 10-year gilts had erased their rally and flipped to losses.