Burnham beware, the bond markets will demand proper answers in the budget | Nils Pratley
News Source
β’Wed, 02 Sep 2026 17:14:31 GMT
π° What Happened
Financial writer Nils Pratley warns the UK must give the bond markets real answers. He says the sell-off is global, but the UK has said little to win back trust.
The UK's 30-year borrowing costs hit their highest level since 1998. That is a red flag for any government.
Pratley says the October budget must make tough, honest choices. Delaying them would make the market even uglier.
π The Backstory
Pratley has covered finance for decades for the Guardian. His column is read by traders and ministers alike.
The global sell-off has clear causes: war, inflation, a weak yen, and AI's wall of debt. But each country must still prove its own budget is safe.
The UK carries a big debt pile from years of crises. Investors now charge it more to borrow. The budget must show income matches promises, or yields climb further.
π― Why It Matters
Editorial warnings like this steer real money. Bond yields feed into your mortgage and pension. A budget that calms markets protects family budgets too.
Financial writer Nils Pratley warns the UK must give the bond markets real answers. He says the sell-off is global, but the UK has said little to win back trust.
The UK's 30-year borrowing costs hit their highest level since 1998. That is a red flag for any government.
Pratley says the October budget must make tough, honest choices. Delaying them would make the market even uglier.
Pratley has covered finance for decades for the Guardian. His column is read by traders and ministers alike.
The global sell-off has clear causes: war, inflation, a weak yen, and AI's wall of debt. But each country must still prove its own budget is safe.
The UK carries a big debt pile from years of crises. Investors now charge it more to borrow. The budget must show income matches promises, or yields climb further.
Editorial warnings like this steer real money. Bond yields feed into your mortgage and pension. A budget that calms markets protects family budgets too.