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UK: Week Ahead

UK
  • We will receive the DMO’s FQ3 (Oct-Dec) operations calendar on Friday (which shouldn’t be hugely market moving). The DMO is also likely to announce the coupon for the new Jan-40 gilt this week (around 4.25% looks broadly in line with market pricing at present, but this is likely to be tweaked an eight higher or lower as there is already a 4.25% 2040 gilt).
  • We will also receive a number of house price and credit indicators this week on top of the BRC shop price index and CBI sales figures out this morning (which had core goods inflation pointing in slightly different 
  • In addition, we have head from Prime Minister Starmer today ahead of the resumption of parliament next week following the summer recess. He said that the October budget would be “painful”, that there were “difficult trade-offs” and that there will be “short-term pain for long-term gains.” Starmer said that those with the broadest shoulders would need to take some of the burden and that he would have to ask for the public to contribute.
  • The strategy of the Labour government continues to be to continue to blame the previous Conservative government for its inheritance, and it looks likely that will remain the strategy at least until the Budget is out the way – after that the messaging may have to change if further tax rises come down the line.

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