Why the Bond Market Will Loom Large Over UK Budget

When Chancellor of the Exchequer Rachel Reeves unveils the UK budget on Nov. 26, bond markets will quickly pass judgment, with investors deciding whether she’s done enough to put the country’s debt on a sustainable path.

The budget lays out the government’s plans for the economy, including how much it wants to tax and spend. This year, there’s extra tension. Reeves needs to raise around £30 billion ($39.3 billion) to plug a hole in government finances and establish a rainy day fund in case the fiscal outlook darkens again.