Amundi, Vanguard Funds Trim UK Bonds Exposure Ahead of Budget

UK bondholders sitting on the best returns since the coronavirus pandemic are preparing for the government to release a tax-and-spend plan that could make or break their year.

Chancellor of the Exchequer Rachel Reeves is expected to announce a series of measures to help meet debt targets on Wednesday when she presents the budget. Her debut address last year sparked a selloff, and bond markets still bear the scars of the far-greater rout initiated by the fiscal policies of former Prime Minister Liz Truss.