Bond market strikes are waiting for rulings waiting for investors again

Unlock the editor’s digestion free

FT editor Roula Khalaf, chooses his favorite stories in this weekly newsletter.

Rachel Reeves will have to pay hard expenses to replace higher debt costs this month, investors have recently strengthened the bonds of bonds in England.

This Office for budget liability On Wednesday, Britain’s initial financial forecasts are based on Britain’s debt expenditures, February 12 and February, this excludes more increase in gentle product.

Capital analysts in economists, reveves, due to higher debt expenses during the OBR window, partially the main financial goal of £ 1.6 billion.

If the last period is used to assess interest rates, the damage will be about $ 1 billion.

Investors, figures, March 26, on March 26, the state canceled financial financial financial financial finances, with the abolition of the OBR, demanded the shortcomings.

Active manager Franklin Templeton said that the head of European stable income David Zahn, the March 26 Gilts market has been formed to be a “big day”. He said investors expect to reduce significant costs.

“If they are not much (in terms of cuts), Gilts will be under pressure again,” Zahn said. “It’s a very nice line they walked.”

The reveves had been growing since the budget budget since the budget, the increase was stagnated and debt expectations increased.

Recently, the investor, which manages the expectations of the investor, where the expectations managed by the investor’s expectations, where the fertility should borrow more to finance European defense spending, began a dynamically dynamically on the dramatic screen.

In early February, the 10-year elegance was from 4.7 percent to 4.7 percent on Wednesday, and 4.4 percent in early February. Moving in reverse to domestic prices.

“The international position is unlikely to get easier to get the headroom in October – Ideally go beyond them,” said Ben Nabarro, England economist

He said that this could build £ 15 billion in the hood in the spring statement. “In a relationship with worse news, when the next tax increase is, when no matter when.”

Reeves previously stated his statement as a daily briefing on the Commons House, which followed the forecast for the OBRIN on March 26. Only one year promised to hold a “basic financial event”, and tax changes in the fall will come once a year.

Now he will open another riflaughter with a stroke with a stroke with the spending of public finance, welfare and department. Older government officials would be expected to reduce to the well-being, and expected to save at least $ 5 billion – regardless of the situation of public finance.

“Whether the title room is 2 billion or £ 20 billion or not,” he said.

Reeves October has left £ 9.9bn Head of the main financial procedure that requires a daily spending with tax revenues in 2029-30.

However, immediately after the October budget, the investor of the productivity was immediately after the subtle margin of the subtle margin – one year left the context of a government spent.

The ten-year gentle productivity is mixed with 16 years of altitude, 8-year height, Britain’s economic concerns, global bond sales, and increase the concerns about the banning budget rules, before borrowing.

Donald Trump, as doubts about the European security obligation, rose again in recent weeks.

“Recently, the headroom (The) heads down soon,” said Craig Inch, “said Craig Inch, Royal London Assets Prices and Cash President.

Goldman Sachs, on Tuesday, said that the forecast for the capital of chancellor to restore the head-by-chance to restore the expenditure spending over a year.

This is probably possible forecasts that the new forecasts are likely to be “target” “target” to determine the “target” to determine the “sensitivity” of the government.

OBR, the fiscal forecast on Wednesday was released in late September, but in late October, it will include adjustments to GDP data released in late October.

These amendments would raise the beginning of the economy in the budget forecast, but were able to calculate that they were not “material” and inflation forecasts because the OBR was not “material” in October.

Analysts said that the reeves could be a little comfort with the decision of the Britain to raid the foreign aid budget until 2027, until 2027 of the Prime Minister Sire Keir Starmer.

Some of these costs will likely be considered as capital expenditures that do not calculate the reeves that require the current budget surplus in 2029-30.

“The commitment of the government’s financial rules and healthy state finance cannot be discussed,” he said. “We do not comment on hypotheses around OBR predictions.”

Additional report by George Parker in London