Bond Market takes fright at Budget30 Oct 2024 18:03
“ Government borrowing costs jumped to their highest level in nearly a year after the largest tax raising Budget in history.
Bond markets took fright to the Chancellor’s proposed debt-fuelled spending binge by pushing up the yield on the main type of Government by nine basis points to 4.41pc — putting it on track for its highest close since November.
Meanwhile, two-year debt surged as much as 12 basis points to 4.38pc after the Budget.”
Won’t bother me having no mortgage but feel for those with mortgages. Same old Labour. Same old tax, borrow and spend.