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Gilts rally after Starmer says Reeves to remain chancellor for ‘a long time’

Move partially reverses sell-off prompted by investor fears chancellor would be sacked after emotional PMQs appearance
In a day of high political drama on Wednesday, Rachel Reeves appeared to shed a tear when Keir Starmer did not give the chancellor his full backing when asked about her future

UK government bonds rallied on Thursday after Sir Keir Starmer said Rachel Reeves would be chancellor for a “very long time”, allaying investor fears over her position.

The prime minister made the promise after he failed to back a tearful Reeves in the House of Commons on Wednesday, triggering a sharp sell-off in gilts and the pound.

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