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.

2026-10-19

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.