UK Bonds Fall as Budget Relief Gives Way to Longer-Term Concerns
The London Stock Exchange Group Plc's office atrium in the City of London.
Photographer: Chris Ratcliffe/BloombergUK’s bonds fell, ending a five-day rally, as investors analyzed the economic impact of Chancellor Rachel Reeves’s budget that delayed tax-raising measures until later this decade.
The yield on 10-year debt rose three basis points to 4.46%, after hitting a two-week low on Wednesday. That still left the bond market up on the week, with traders now turning their attention to the prospect of a Bank of England interest rate cut next month.