UK 10-year gilt yields rose on Wednesday amid higher oil prices and US Treasury
yields, peaking at 5.44% — the highest since Oct. 1 — and touching an intraday
19-year high of 5.51%. Chancellor John Healey met economists hired by gilt
primary dealers to gauge market sentiment ahead of his first budget on Oct. 28;
BofA economists say the budget could raise government borrowing by about £15 bln
(~$19.9 bln) in both the current fiscal year and 2027/28, narrowing fiscal
headroom for long-term targets. The DMO plans auctions of gilts maturing Jan.
2028 and Jul. 2031 later Wednesday.
