币界网报道：It is worth noting that there were three distinct phases in the UK 10-year gilt market today. Despite last night’s turnaround on the welfare reform bill, government borrowing costs were relatively stable this morning, both overall and in particular compared to Germany and the US. This changed dramatically during the Prime Minister’s Questions (PMQs) when concerns about the future of Chancellor Rachel Reeves introduced a sudden risk premium, causing yields to spike. This was followed by more reassuring comments from the Prime Minister about the Chancellor’s tenure in the late afternoon, which led to a partial retracement in yields. However, the market struggled to sustain this recovery. Let’s see what happens tomorrow. (It is also worth noting that currencies were noticeably weaker today despite higher yields.) #economy #markets #uk #PMQs #Gilts #bonds #WelfareReformBill