The fixed income markets continued to feel the pressure from bearish sentiment, particularly in the UK, where Gilt yields reached multi-year highs, signaling caution from investors.
PM Starmer’s comments of sticking to fiscal rules were seen as insufficient by market participants, who interpreted the lack of strong government support as a catalyst for further selling in the markets.
Starmer’s hesitance to endorse Rachel Reeves as Chancellor amid pressing economic conditions raises questions about political stability and potential scapegoating for fiscal policy failures.
Overall market sentiment remains shaky and cautious, indicating a repetitive pattern of responses to ongoing economic uncertainty and lack of decisive government intervention.
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