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Gilts Slide Again As Treasury Lines Up Medium-Term Fiscal Plan

UK
  • The Treasury states that it will publish its Medium-Term Fiscal Plan on November 23 along with accompanying OBR forecasts after the latter weren't included in the most recent 'mini-budget'.
  • Gilts re-cheapen on the back of the announcement, with 5Y yields rising 10-11bps for 44bps on the day, unwinding some of the afternoon's rally potentially on hopes of some climb down from the government.
  • Other points include: "The Fiscal Plan will set out further details on the government's fiscal rules, including ensuring that debt falls as a share of GDP in the medium term."
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  • The Treasury states that it will publish its Medium-Term Fiscal Plan on November 23 along with accompanying OBR forecasts after the latter weren't included in the most recent 'mini-budget'.
  • Gilts re-cheapen on the back of the announcement, with 5Y yields rising 10-11bps for 44bps on the day, unwinding some of the afternoon's rally potentially on hopes of some climb down from the government.
  • Other points include: "The Fiscal Plan will set out further details on the government's fiscal rules, including ensuring that debt falls as a share of GDP in the medium term."