Large investors including M&G Plc and Ninety One Plc bought UK gilts ahead of
the Oct. 28 budget, betting new Chancellor John Healey will stick to fiscal
discipline. They expect gilt yields to fall if Healey shows control over
spending and borrowing. Barclays UK rates strategist Moyeen Islam said a muted,
no-frills budget would be the best outcome for the bond market, warning Healey
should avoid creating a UK-specific narrative while global attention is on
Washington, Paris and Tokyo.
