UK gilts extended their retreat as Prime Minister Andy Burnham said he will seek “any flexibility” in the government’s fiscal rules. Investors are concerned this could loosen fiscal discipline and add to the UK’s heavy debt load, pressuring UK sovereign risk sentiment. The news is likely to be sector-moving via higher gilt yields rather than a one-off headline.
UK gilts extended their retreat as Prime Minister Andy Burnham said he will seek “any flexibility” in the government’s fiscal rules. Investors are concerned this could loosen fiscal discipline and add to the UK’s heavy debt load, pressuring UK sovereign risk sentiment. The news is likely to be sector-moving via higher gilt yields rather than a one-off headline.
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mildly negative
Sentiment Score
-0.35
