Markets react to fiscal plans unveiled in the Autumn Budget
Markets react to fiscal plans unveiled in the Autumn Budget
08 Nov 2024
Chancellor of the Exchequer Rachel Reeves set out the Labour government’s fiscal plans in October. UK gilt yields had begun to creep up in anticipation of the Budget and climbed further still in the final days of the month.
Month in brief
- UK gilt yields climbed over October as details of Budget measures emerged
- US stocks dipped over the second half of the month but responded positively to Donald Trump’s election win in early November
- High yield bonds enjoyed a strong month with a soft landing for the US anticipated
- UK DB pension scheme funding rose in October as liabilities fell