Neuberger analyst Kostas Deslis noted that gilt and sterling trading remained relatively stable following this week's UK budget announcement, with fiscal measures effectively supporting market stability. By expanding fiscal space and implementing anti-inflation policies, the budget has alleviated concerns among investors and voters. Deslis stated that with reduced risks, long-dated gilt yields are expected to decline in the coming weeks.
Tradeweb data showed the 30-year gilt yield held steady at 5.203%. The pound edged lower against a broadly stronger US dollar but gained slightly against the euro.
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