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Labour insiders express unease over Healey budget approach
They cite the ongoing global bond sell-off that has pushed the yield on 30-year UK government bonds to 6% amid rising energy costs.
Labour figures are privately uneasy about John Healey’s approach ahead of his first budget later this month, with concerns that his party conference speech lacked detail on policy and could risk renewed market shock, according to the Guardian Business.
The outlet links the budget pressure to volatile global markets and soaring energy costs, saying Healey’s task has been made harder by a global bond sell-off that continues to lift the cost of government borrowing.
The report also points to higher energy prices connected to the US conflict with Iran, and it notes that the yield on 30-year UK government bonds hit 6%.