Bond Giants React to the UK’s Most Anticipated Budget in Years
- Bonds were whiplashed as government unveiled pivotal plan
- Traders slashed wagers on the extent of BOE interest rate cuts
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As the dust settles on the UK’s most anticipated budget for years, investors are piecing together a picture of what comes next for the gilt market.
They’re weighing a package that points to substantially steeper government borrowing in the coming years, along with higher-than-expected inflation and growth forecasts.