Borrowing costs climb most since mini-Budget on inflation fears March 6, 2026 The government’s borrowing costs rose dramatically on Friday and were on track to have their worst week since Liz Truss’s fateful mini-Budget, amid fears the escalating war in the Middle East will unleash another bout of high inflation. The interest rate on UK bonds – known as gilts – rose across the board, to reach [...]
Borrowing costs spike as Middle East conflict rages March 3, 2026 The cost of UK government borrowing spiked on Tuesday morning, while the pound plummeted as markets continued to digest the impacts of the intensifying conflict in the Middle East. The yield on the 10-year Gilt jumped 0.15 percentage points to 4.46 per cent while 2-year Gilt yields, which closely track interest rate expectations, spiked 0.16 [...]
‘Trust me’: Jamie Dimon to defend JP Morgan’s $2bn-a-week bill February 23, 2026 Jamie Dimon is set to defend JP Morgan’s $2bn-a-week cost bill today as analysts and shareholders gather for the banking giant’s annual investor day. The bank chief – generally considered to be the world’s most influential banker – unveiled higher-than-expected plans for 2026 spend at the beginning of the year. JP Morgan told markets spending [...]
Reeves lands £30bn reprieve ahead of Spring Statement February 20, 2026 Rachel Reeves has secured a record-breaking borrowing reprieve in fresh data that comes ahead of the Chancellor delivering her Spring Statement in March. The Treasury has been handed a surplus of £30.4bn in January, new figures from the Office for National Statistics (ONS) show, after a surge in tax receipts. The figure is £15.9bn higher [...]
FTSE 100 Live: Retail sales inch up; Segro ups dividend February 20, 2026 Good morning and welcome back to the City AM liveblog. The FTSE 100 took a breather from its blistering record run on Thursday after a major stock tumble at British Gas owner Centrica led the index into the red. Centrica shed over five per cent after telling markets it would hit pause on its share [...]
UK government borrowing overshoots expectations in November December 19, 2025 UK government borrowing exceeded expectations in November but still fell year-on-year after tax receipts surged following Rachel Reeves’ first Autumn Budget. The latest release from the Office for National Statistics (ONS) showed public sector borrowing topped £11.7bn in November. City economists expected government borrowing to come in at £10.2bn over the month. Despite this, the [...]
City readies up for Labour’s borrowing spree November 26, 2025 Fixed income investors are readying for the Debt Management Office (DMO) to boost its gilt issuance for the current financial year, otherwise the level of UK government debt sold to traders, as the Labour government ploughs ahead with its borrowing spree. The DMO, an independent government body that oversees the sale of UK government bonds, [...]
UK government borrowing overshoots in Budget blow November 21, 2025 UK government borrowing exceeded expectations in October, with benefits and public sector wages intensifying pressures on the public purse ahead of Rachel Reeves’ Budget next Wednesday. The Office for National Statistics showed that public sector net borrowing had reached £17.4bn in the last set of public finances data that government officials will see before Wednesday’s [...]
‘Shenanigans’: Did the OBR save Reeves from hiking income taxes at the Budget? November 18, 2025 For weeks, Chancellor Rachel Reeves had been engaged in an extraordinary communications exercise of expectation management, leading Brits to believe that income tax was about to hiked for the first time in 50 years. In an unusual press conference earlier this month, she told journalists that everyone would have to contribute to the Labour government’s [...]
Bond markets ignore Starmer briefings and Westminster gossip November 12, 2025 Bond markets shrugged at Keir Starmer’s team’s attacks against Cabinet ministers and Westminster gossip suggesting a leadership contest was emerging after investors were dragged into briefing wars. On Tuesday night, a briefing war erupted in Westminster as Keir Starmer’s allies told journalists that there would be a rout in the bond markets if the Prime [...]