Ahead of the spring statement, the pound is falling and GBPUSD is below $1.29. UK bond yields also falling.This is a sign that spending cuts could be bullish for the uk bonds and bad news for the pound.
There are very few spending increases that are expected to be announced today, bar some small spending pledges for homes and technical colleges. If October was the Budget of tax rises, then this is the Budget of spending cuts. The balance between taxes and spending plans have, so far, been absorbed by financial markets well. But will it stay this way?
Join Kathleen and find out.
Economic Calendar: The US, the UK, and parts of Europe will be closed for trading 💡 (25.05.2026)
🔴A New Era at the Fed: Kevin Warsh Takes the Helm. US30 above 50k
Is Waller echoing Warsh's stance? Keeping rates steady but pressing ahead with balance sheet reduction?
📆Three Markets to Watch Next Week (22.05.2026)
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
