Labour figures were out last week and over the weekend pouring scorn on the “excitable” media and opposition politicians for crowing about post-budget bond market turbulence, when 10-year gilt yields almost hit 5%. Not out of the woods yet…
Gilt yield rises have now hit the mortgage markets. On Friday five-year fixed rate mortgages hit a five-month high of 5.3%, counteracting a strong year in mortgage market price competition. That’s a £500-per-year higher price tag for those remortgaging this year. Reeves’ Budget Bombshell, anyone?
Sarah Pochin at Reform Scotland’s manifesto launch event: “I really wanted to come on in a Reform tartan burka, but apparently I wasn’t allowed… One day let’s do one of these events not live-streamed. We’ll do all the naughty stuff…”