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U.K. bond yields tumbled on Monday ahead of a planned statement from new Chancellor of the Exchequer Jeremy Hunt laying out budget plans ahead of the Oct. 31 medium-term plan. The yield on the 30-year gilt
TMBMKGB-30Y,
4.407%

fell 36 basis points to 4.49%, while the pound
GBPUSD,
+0.77%

rose to $1.1257. Hunt also gave a series of interviews over the weekend and is expected to eliminate most of other tax cuts laid out in the mini budget.


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