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From: Denc 🗡
I think I mentioned that I held some gilts for a while. I sold them a while back ( at a loss ) Wise move I reckon…. Wealth manager dumps UK bonds over fears Burnham ‘will do a Truss’ Borrowing costs jump to two-month high, piling pressure on incoming PM to restrain spending City wealth manager has dumped UK government bonds over fears that Andy Burnham “does a Truss” and drives up borrowing costs with his spending plans. Rathbones Asset Management confirmed it had sold some government bonds, known as gilts, in anticipation of Mr Burnham becoming prime minister on Monday. David Coombs, the head of multi-asset investments at the firm, said the £9.8bn money manager was dumping longer-dated gilts to protect against “fiscal irresponsibility”, according to Bloomberg. Mr Coombs said: “The gilt market presents us with a real dilemma right now. One is that Burnham ‘does a Truss’, or at least appoints a chancellor that is fiscally looser than Rachel Reeves.” It comes as borrowing costs on Tuesday climbed to a two-month high, after Donald Trump reignited the war in Iran and drove up oil prices. The yield on 10-year gilts jumped above 5pc for the first time since May, a rise from 4.87pc since the end of last week. The higher cost of government borrowing will mean there will be even greater pressure on Mr Burnham to convince markets he will refrain from profligate spending.

Current Thread	Author	Time
I think I mentioned that I held some gilts for a while. I sold them a while back ( ... [more]	Denc 🗡	18:35:52
>> Bounced back a bit today on news that Milispend may not be chancellor	Hamsterwheel	18:43:36

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