: Bond yields tumble ahead of new chancellor’s budget statement

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U.K. bond yields tumbled on Monday ahead of a planned statement from new Chancellor of the Exchequer Jeremy Hunt laying out budget plans ahead of the Oct. 31 medium-term plan. The yield on the 30-year gilt TMBMKGB-30Y, 4.451% fell 36 basis points to 4.49%, while the pound GBPUSD, +0.87% rose to $1.1257. Hunt also gave a series of interviews over the weekend and is expected to eliminate most of other tax cuts laid out in the mini budget.

This article was originally published by Marketwatch.com. Read the original article here.

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