10-year gilt yields have climbed to 5.41% this morning and 30-year gilts up to 5.93%. Gilts are taking a heavier beating than most continental bonds, outpacing the overnight moves in Japan and the selloff in US Treasuries. Oil is now above $100 a barrel after Houthi attacks on Saudi shipping in the Red Sea. Traders are pricing in as many as four rate rises over the next few months, although the Bank of England is expected to hold once again at 3.75% on Thursday. For now…
Boris spoke to GB News about Labour’s attempts to restrict donations:
“It looks absolutely pathetic. Just because some people want to support one party very generously, Labour kicks up a huge fuss and says they’re going to cap donations.
I just saw Richard Tice on your show just now. I have to say I rather agree with him.
They’ve got huge amounts of money – troughing it from the trade unions. It’s absolutely ridiculous Labour are trying to cap donations.”