The UK 10-year gilt yield fell to 4.57%, nearing a four-week low, as concerns grow over the British economic outlook and expectations for monetary easing. Investor sentiment has turned increasingly pessimistic toward the UK, especially when compared to the US, where recent data reinforced confidence in economic resilience. This divergence has led markets to price in two rate cuts from the Bank of England by year-end, while expectations for US rate cuts remain more limited. On the global front, geopolitical tensions remain in focus. President Donald Trump has rolled out a new round of tariff measures, including a 15% levy on imports from South Korea, aligning them with those on Japan, and a 25% tariff on goods from India. Meanwhile, Treasury Secretary Scott Bessent said he would meet with Trump to discuss extending the tariff truce with China, signaling hopes for a trade resolution.