Gilts Caught in Global Bond Slide on Hot Inflation: Markets Today

UK assets are shedding some of the euphoria following Prime Minister Rishi Sunak’s post-Brexit deal. Gilts and the FTSE 100 are heading in the other direction though, with yields pushing higher and stocks tumbling.

March 2, 2023 . 7:13 AM

1 min read

The pound is on the back foot to start the day, and futures point to a quiet open for the FTSE 100.
Traders now see the benchmark rate hitting a historic high of 4% in about a year, up from wagers for 3.5% just a few weeks ago.
Data today from Kantar confirmed that discount supermarkets like Aldi and Lidl are gaining market share due to the cost-of-living crisis.
Ocado reported earnings this morning, booking a £74.1 million loss before interest, taxes, depreciation and amortization.
Sunak embarks on the difficult task of getting key lawmakers on side for his post-Brexit deal.