UK government borrowing costs dip and pound rises as City welcomes Burnham speech – as it happened

Automatically composed with AI from the cited sources

UK 30-year gilt yields fell 2 basis points and the pound rose over a third of a cent to $1.3240 as Andy Burnham addressed investors. Alex Everett of Aberdeen Investments noted the speech was “light on detail” but welcomed the “renewed commitment to fiscal responsibility” and ambition to reduce the welfare bill, while NEF’s Danny Sriskandarajah highlighted the pledge to bring essential services back under public control and deliver equitable growth.