U.S. 10-year Treasury yield rose 0.86 bps to 4.995%.

A senior Ukrainian official said the Oleshky ceasefire will last until November 1.

Stephen Jones at Aegon Asset Management said Wednesday’s UK budget is unlikely to contain major surprises given limited fiscal headroom and political will. But with recent market optimism and a rally in gilts, even a modest surprise could spook markets ahead of Halloween. He warned the tail risk from extra borrowing lies in fiscal mechanics: roughly £10bn of additional financing—potentially via off‑balance‑sheet instruments—could likely be absorbed, but a £30–40bn rise in gilt issuance would be difficult for markets to take calmly.