On June 12th, Jin10 Data reported that Daniela Russell, the head of interest rate strategy at HSBC UK, stated in a report that the upcoming UK general election is expected to have minimal impact on UK bonds. Russell said that the Bank of England may start cutting interest rates at the August meeting. Prior to the Bank of England's policy meeting in August, investors' attention may be focused on macroeconomic data. She said: 'Although the general election will distract attention in the short term, we expect its impact on UK bonds to be minimal.' Refinitiv data shows that the market has digested expectations of an 11 basis point rate cut in August and a 31 basis point rate cut in November by the Bank of England. Russell said: 'We believe that the market is seriously underestimating the likelihood of action at the (August) meeting.'