U.K. government bond yields volatile as budget delivers £40 billion tax hike
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 30 2024
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Source: MarketWatch
Volatile Bond Yields: U.K. government bond yields experienced volatility as traders reacted positively to the government's focus on tax increases rather than increased borrowing to address fiscal challenges.
Chancellor's Budget Speech: In her first Autumn Budget, Chancellor Rachel Reeves emphasized the importance of investment for driving economic growth, marking a significant moment for the Labour government after 14 years.
Analyst Views on GBPUSD
Wall Street analysts forecast GBPUSD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GBPUSD is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 1.350
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
