Currency traders bet against sterling ahead of Budget
Investors buy option protection on fears Rachel Reeves’ tax-raising measures could hurt growth
Investors buy option protection on fears Rachel Reeves’ tax-raising measures could hurt growth

Slowdown in private sector activity adds to signs of fragility in economy before Reeves’ tax rises next week

Gilts sell off after government ditches plan to increase income tax rates

Gilts investors have long suspected that Labour would abandon its manifesto promises

Better than expected activity adds to dollar weakness to send the pound to its highest level since October

Tax rises alone will not be enough to meet chancellor’s fiscal rules in Budget, say leading bond market figures

Rachel Reeves has steered the gilt market to a less skittish place with the Budget