UK markets have stabilized after the Prime Minister's statement

British government bonds recovered significantly on Thursday, outperforming their main rivals. The rise was helped by a statement from Prime Minister Keir Starmer, who expressed confidence in Rachel Reeves as Chancellor of the Exchequer, stressing that she should hold this position «for many years to come.»

The yield on 30-year British bonds fell by 11 basis points, almost offsetting the rise seen the day before. This positive trend was a reaction to Starmer's expression of confidence in Reeves, which supported the markets.

In the foreign exchange market, the pound sterling stood out as the only currency among the G-10 countries that managed to strengthen its position against the US dollar during trading on Thursday. This behavior of the currency has become notable against the background of general instability.

The stabilization of the financial climate in the UK is directly related to the Prime Minister's public support for his chancellor. This measure brought some calm to the markets after the recent fluctuations seen on Wednesday.