UK 10-year gilt yields climbed to 4.7%, a two-week high, after public finances data showed a sharply wider deficit. Public sector net borrowing hit 18 billion GBP in August, well above forecasts of 12.8 billion GBP and the highest for the month in five years. Borrowing for the first five months of the fiscal year totaled 83.8 billion GBP, 11.4 billion GBP above OBR projections, with earlier months revised up by 5.9 billion GBP. The figures highlight fiscal strains ahead of November’s budget, when Chancellor Reeves is expected to announce tax rises. Rising borrowing costs come as bond markets remain jittery globally over debt levels. Meanwhile, the BoE held rates at 4% in a 7–2 vote, slowed QT to 70 billion GBP, and reaffirmed a cautious easing stance. In the US, the Fed cut rates 25 bps and signaled more to come, though Powell framed the move as risk management.