This comes after Kwarteng cuts short his trip to the IMF in Washington as the government prepares a U-turn on the budget. Keep in mind that today is also the last day of the BOE extending support to purchase bonds, so perhaps we are seeing market players keeping things a little tight and tidy before any sudden moves again.
For now at least, the air of calm and bid in bonds will help with risk tones and broader market sentiment. 10-year Treasury yields are also down 3.6 bps to 3.917% at the moment.
