Andy Burnham has completed his first week as head of government, during which UK bond traders have been assessing the spending plans of his new administration alongside the impact of oil prices approaching $100 per barrel. These two factors are creating uncertainty for UK government bonds (gilts). The situation matters because it may influence borrowing costs and fiscal policy direction.
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Oil prices are 'hovering near $100 a barrel'.
Andy Burnham completed his first week as head of government.
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Andy Burnham completed his first week as head of government.
BloombergBritain’s bond traders have spent Andy Burnham’s first week in office trying to price two different forces: the spending ambitions of his new government and the impact of oil prices hovering near $100 a barrel.
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Andy Burnham completed his first week as head of government.
BloombergBritain's bond traders are pricing the spending ambitions of the new government led by Andy Burnham.
BloombergOil prices are hovering near $100 a barrel.
Bloomberg