GB: Decline in yields and rise in the pound before the announcement of budgetary measures


GB: Decline in yields and rise in the pound before the announcement of budgetary measures |  Photo credits: Dean Moriarty/Pixabay

GB: Decline in yields and rise in the pound before the announcement of budgetary measures | Photo credits: Dean Moriarty/Pixabay

LONDON, Oct 17 (Reuters) – Yields on long-term British bonds fell sharply and the pound rose on Monday ahead of the new finance minister’s presentation of fiscal and fiscal measures.

Yields on 20-year and 30-year gilts fell 23.8 basis points to 4.613% and 25.8 points to 4.519% respectively. The ten-year contract contracted by 27.4 points to 4.569% around 07:40 GMT.

The pound sterling at the same time advanced 0.75% to 1.12615 dollars and hit a session high of 1.1305.

Jeremy Hunt, the new Chancellor of the Exchequer who replaced Kwasi Kwarteng on Friday, following the turmoil triggered by the presentation at the end of September of a “mini-budget”, will announce this Monday, with a two-week advance on the originally planned schedule, new measures likely to scrap swathes of Prime Minister Liz Truss’ growth plan. (Report Andy Bruce; French version Claude Chendjou, edited Kate Entringer)





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