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Analyst: UK Chancellor may be replaced by a left-leaning successor, triggering a dramatic reaction in the bond market.
Jin10 data reported on July 2, analysts from the EU financial broker XTB, Kathleen Brooks, stated in a report that the likelihood of political turmoil in the UK is driving up bond yields. The market is digesting the possibility that the Chancellor of the Exchequer may be replaced by a more left-leaning successor, which is unsettling the bond market and reactivating the previously dormant "bond vigilantes."