Leaviss: UK could lose its AAA rating by December

M&G's co-head of fixed income Jim Leaviss has warned the UK could face losing its AAA rating on 5 December, the day of the Autumn Statement, as the growing budget deficit could force George Osborne to abandon plans for fiscal consolidation.

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Partner Insight: Markets hold steady amid uncertainty

Mike Riddell, portfolio manager of Fidelity Strategic Bond Fund, provides an overview of the macroeconomic environment and outlines his views across the strategy’s main alpha sources. Despite geopolitical tensions and economic concerns, market sentiment remains resilient, with short-lived volatility spikes and credit spreads rallying in recent weeks. Against this backdrop, he highlights why his highest conviction forex position is a short US dollar against a basket of emerging market currencies.

Mike Riddell, portfolio manager of Fidelity Strategic Bond Fund

22 July 2025 • 5 min read