UK finance minister Hunt announces delay to fiscal plan to 17 November

• Medium-term fiscal plan will now be full ‘autumn statement’
• Has discussed this with BOE governor Bailey, says he understands the reasoning
• Delay is the best way to make sure we take the right decisions

I noted earlier here how gilts will not like such a delay and we are now seeing yields tick higher with 30-year yields up 11 bps on the day to 3.785% at the moment.