Bond yields fall, reversing a sharp rise on Wednesday sparked by speculation over the future of the chancellor
• Business live – latest updates
UK government bond markets have rallied after Keir Starmer backed Rachel Reeves to remain as chancellor for “a very long time” despite lingering investor concerns over a multibillion-pound hole in Britain’s public finances.
The yield – in effect the interest rate – on British government bonds, also known as gilts, fell by about 0.1 percentage points on Thursday morning to trade close to 4.5%, reversing a sharp rise on Wednesday sparked by feverish speculation over Reeves’s future.
Continue reading…Bond yields fall, reversing a sharp rise on Wednesday sparked by speculation over the future of the chancellor• Business live – latest updatesUK government bond markets have rallied after Keir Starmer backed Rachel Reeves to remain as chancellor for “a very long time” despite lingering investor concerns over a multibillion-pound hole in Britain’s public finances.The yield – in effect the interest rate – on British government bonds, also known as gilts, fell by about 0.1 percentage points on Thursday morning to trade close to 4.5%, reversing a sharp rise on Wednesday sparked by feverish speculation over Reeves’s future. Continue reading…