The UK 10-year gilt yield rose to around 4.41%, as global markets reacted to renewed trade tensions. President Donald Trump threatened tariffs on European countries opposing his push to take control of Greenland, naming several nations including the UK. European leaders signalled they would respond if tariffs were imposed, adding to concerns about weaker trade and growth. Expectations for interest rate cuts edged up, with markets now pricing slightly more easing from the Bank of England by year-end as tariff risks could weigh on the economy. Attention is turning back to UK data, which may shape rate expectations. After a stronger-than-expected rebound in November GDP, upcoming releases on wages, jobs and inflation will show whether economic momentum is fading. Inflation is expected to tick up temporarily but remain on a path lower. The IMF also struck a reassuring tone, saying UK inflation should return to the 2% target by the end of the year as the labour market cools.