‘British government bond prices fell sharply on Wednesday, pushing 10-year yields to their highest since October 2008, above a level that had held since October 2023, while 30-year yields hit a new 26-year high. (ie - when Gordon Brown was in Number 11) Thirty-year gilt yields - which leapt on Tuesday - rose by 11 basis points to strike their highest since August 1998 at 5.359% at 11:30 GMT. Benchmark 10-year yields rose as high as 4.784%, up 10 bps on the day. Gilts heavily underperformed against U.S. and German bonds.’ Yields represent the Interest Rate paid by the Government. 2 things spring to mind from this: 1) base rate reductions may slow down, meaning base rates will be higher than exp for longer 2) Reeves will have to either raise more money in tax or reduce Government Spending Either way, market confidence in UK PLC has reduced significantly since Reeves’ budget and rates are higher than the levels seen post Truss & Kwarteng’s mini-Budget.
No wonder the NHS is in such a state ….. Look at the role - more importantly, look at that Salary package. I’m sure there are some nurses wondering what the eff is going on? That’s far more than they earn for a far more important job….
Just read that to my wife who’s an Intensive Care nurse, that basically nearly three ICU nurses salary there.
