Last updated: 2025-11-16 01:43:47 ET
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The bond markets selling UK debt, which the chancellor had spent months courting, reacted badly to her change of heart on income tax rises
The 10-year gilt yield rises sharply in reaction to reports that an expected Budget income tax rise will not happen.
The chancellor had been widely expected to increase income tax rates, which would have broken a manifesto promise.
British government bond yields rose sharply on Friday morning.
