Spring Budget 24: Sterling and gilts hold steady as platforms enjoy GB ISA boost

Market reaction to fiscal event

UK markets have held relatively firm in response to the Spring Budget’s lack of shock statements, while platforms enjoyed a share price rise on the back of the confirmation of the Great British ISA.

At 12:30pm, when Chancellor Jeremy Hunt was scheduled to begin his address, the yield on UK 10-Year gilts sat at 4.130% and at remained largely steady throughout the chancellor's speech, according to data from MarketWatch. Since then, it has dropped from a spike at 4.151% down to 4.092% at the time of publishing. Spring Budget 24: UK economy to grow more in 2024 and 2025 than previously forecast The yield on one-, three- and five-year gilt yields followed a similar pattern. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said the chancellor wanted to "to avo...