Rathbones Cut Gilt Exposure in Case Burnham ‘Does a Truss’

Rathbones Asset Management has trimmed its UK government bond holdings, anticipating a possible selloff if Andy Burnham, a potential Labour leader, increases spending and borrowing. This strategic move reflects concerns that Burnham's fiscal policies could lead to higher borrowing costs and reduced bond values. Such a shift underscores the market's sensitivity to potential changes in government fiscal strategy, indicating broader implications for the UK's financial stability and investor confidence.