A beginner’s guide to appeasing the bond market – and why it matters July 24, 2026 Britain’s enormous debt pile means the bond market now has the power to decide the fate of a government. Ali Lyon spoke to gilt investors to see how our new Chancellor can keep them happy. When John Healey was last in the Treasury, the world was a very different place. Britain’s economy was growing at [...]
Four charts revealing scale of Andy Burnham’s economic challenge July 21, 2026 Andy Burnham has harboured ambitions to be Prime Minister for over a decade. But the economy he is inheriting will take the shine off his lofty hopes – just look at these four charts. As he stepped out onto Downing Street for the first time as Prime Minster, Andy Burnham allowed himself to break out [...]
Could an England World Cup win boost the markets? July 14, 2026 The equity markets of World Cup-winning countries frequently outperform immediately after victory. A Goldman Sachs study of tournaments from 1974-2014 found that every winner except Brazil in 2002 subsequently enjoyed a period of market outperformance, says Helen Thomas If football finally came home, what might it do for financial markets, aside from a late start [...]
Why even gilts are outperforming the once unstoppable Magnificent 7 this year July 8, 2026 Plagued by sticky inflation and spendthrift politicians, the UK government’s bonds have spent years as an unloved asset class. But six months into 2026 and they have, so far, outperformed the Magnificent 7. Ali Lyon examines what has gone wrong for the so-called hyperscalers even as AI hype is greater than ever. Since the Bank [...]
Detail-lite Burnham speech unnerves jittery bond market June 30, 2026 Andy Burnham risks sparking a bond market rout unless he sets out how he will fund the ambitious measures announced in his first set piece speech since Keir Starmer’s resignation, a group of bond investors have said. Fixed income specialists told City AM that while the former Manchester mayor’s vow to stick with his predecessor’s [...]
Speed or stability? Bond markets strap in for Andy Burnham coronation June 22, 2026 City bond traders are strapping in for a “jumpy” ride as Andy Burnham looks set to cruise into Downing Street uncontested – even if a coronation helps head off the worst volatility, analysts have said. The former Manchester Mayor’s bid for the top job won a major boost today as former health secretary Wes Streeting [...]
Bank of England’s Bailey defends bond sale programme June 15, 2026 Andrew Bailey has launched a robust defence of the Bank of England’s controversial bond sale programme, arguing it will provide the firepower for another round of quantitative easing in a market downturn. Writing in The Times, Bailey argued the central bank’s move to hoover up UK government bonds, known as gilts, in the wake of [...]
Borrowing costs fall as interest rate hike fears ease June 2, 2026 Government borrowing costs fell sharply on Tuesday, after a dovish speech from Bank of England governor and revived hopes of a Middle East peace deal led traders to pare back bets on central bank interest rate hikes. Gilts rebounded across the curve, outperforming their European peers. The UK’s two-year and 10-year government bonds fell as [...]
Rachel Reeves oversees borrowing spike as benefits spending offsets tax haul May 22, 2026 Rachel Reeves oversaw a surge in borrowing in the first month of the financial year as April’s figures hit the highest since 2020 on higher benefit spend. Government borrowing – which marks the difference between total public sector spending and income – topped £24.3bn in April 2026, according to the Office for National Statistics (ONS). [...]
Burnham return attempt ushers new borrowing cost record May 15, 2026 Manchester mayor Andy Burnham’s attempt to return to parliament has alarmed traders as gilt yields reached another 28-year high, beating last week’s high. Burnham overcame the first hurdle on his path towards becoming Prime Minister after Josh Simons, the MP for Makerfield, announced he would resign on Thursday night to let the Manchester mayor try [...]