Analysts split over Reeves' role in UK gilt chaos as US bonds follow suit

Yesterday (9 January) morning the pound fell to its lowest level against the US dollar in 14 months, hitting a low of $1.2239 before slightly recovering to $1.23. According to data from MarketWatch, 30-Year gilt yields stood at 5.34%, while 10-Year gilt yields were at 4.79%. The Treasury has stepped in to quell markets' concerns, rejecting claims that higher debt costs had limited Chancellor Rachel Reeves's headroom for borrowing and calling such worries "pure speculation". Russ Mould, investment director at AJ Bell, said the latest market turmoil signals a "massive loss of confi...