The UK 10-year gilt yield rose to 4.66% as investors awaited the government's spending review this Wednesday, which will set departmental budgets through 2029.
The UK economy has shown resilience despite global uncertainty, with stronger business surveys and a solid Q1 GDP pointing to recovery from a weak end to 2024.
However, concerns remain about high public debt levels, and the public is eager for improvements in living standards, according to Finance Minister Rachel Reeves. Markets expect the Bank of England to keep interest rates steady at its June 19 meeting.
This week's key UK data includes April figures on jobs, GDP, and industrial output. Globally, US and Chinese negotiators are meeting in London today to build on last month's preliminary trade agreement from Geneva, following a recent call between Presidents Trump and Xi Jinping
Source: Trading Economi
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