UBS strategists said that the UK's policy uncertainty added an additional risk premium of about 20 basis points to 10-year British Treasury bonds, and the market had not completely removed this premium until Andy Burnham was officially confirmed as the leader of the Labor Party. Mustafa Oguz Kaylan said in a report released on Wednesday: “If the fall budget complies with current fiscal rules, this will provide at least 20 basis points of room for a rebound in British treasury bonds.” Currently, the UK 10-year Treasury yield has declined slightly by 4 basis points to 4.94%.

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