What the news says
Leadership change in UK government directly affects direction of fiscal and monetary policy. UK gilt yields surged following the announcement, reflecting investor repricing of risks regarding the new government's fiscal commitments.
07/21, 02:48 PM
UK government bonds saw minor changes as investors awaited policy updates from Prime Minister Burnham, while poor economic figures reduced expectations for higher interest rates.
UK government bonds saw minor changes as investors awaited policy updates from Prime Minister Burnham, while poor economic figures reduced expectations for higher interest rates.
Affected assets
FirstSquawk
07/21, 02:48 PM
Related updates
investinglive · 07/21, 12:27 AM
Market reactionJohn Healey has been named UK Chancellor of the Exchequer, a surprise appointment as Shabana Mahmood was considered the frontrunner, and UK government bond yields rose sharply following the announcement of the previous Chancellor's departure.
investinglive · 07/21, 02:12 PM
Market reactionUK Prime Minister Burnham announced a VAT cut on energy bills costing £850 million, but lawmaker Darren Jones disputed the funding source, stating the digital ID scheme was unfunded, raising fiscal concerns.