Category: Gilts

Reeves’ fiscal rules non-negotiable in face of bond sell-off, deputy tells MPs

Treasury chief secretary responds to urgent question in Commons as market turmoil hits poundRachel Reeves will not not break her promise only to borrow money for investment, even as gilt yields rose to their highest levels since...

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Will bond vigilantes punish Rachel Reeves with a Truss-style market meltdown?

10-year gilt yields have risen in the past month but are within the range of other pre-budget periodsUK government borrowing costs have risen ahead of Rachel Reeves’s budget on Wednesday.Some City investors say the...

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Labour needs £25bn a year in tax rises to rebuild public services, warns IFS

Thinktank says tax increases in budget will be necessary even if Rachel Reeves changes fiscal rulesWill Rachel Reeves’s rules on debt and spending survive the budget?Keir Starmer’s promise to end austerity and...

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Thames Water collapse could trigger Truss-style borrowing crisis, Whitehall officials fear

Exclusive: Concerns over effect on UK’s finances lead officials to believe utility should be renationalised before general electionSenior Whitehall officials fear Thames Water’s financial collapse could trigger a...

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UK borrowing costs soar above levels of Liz Truss premiership

Stronger than expected job and pay data makes interest rate rise more likely, driving up two-year bond yieldsAnalysis: Don’t rule out half-point interest rate riseBusiness live – latest updatesUK government borrowing...

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Bank of England completes sale of £19bn emergency bond purchases after mini-budget

BoE was forced to intervene in markets to prevent run on pension fundsThe Bank of England has finished unwinding the emergency bond-buying scheme it launched to calm the turmoil in financial markets that followed Liz...

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In 2022 Liz Truss tried to bin economic orthodoxy – but what is it?

Rishi Sunak soon rowed back from his predecessor’s chaotic experiment, reasserting the seven pillars of UK Treasury wisdomIt was all over for Liz Truss’s war on economic orthodoxy the moment she decided to summon...

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