UK Chancellor Rachel Reeves delivered a budget speech in Parliament, aiming to demonstrate control over the nation's finances and seek investment opportunities.

Bond traders initially responded positively to her presentation, but shortly after, the market sentiment shifted dramatically. Benchmark 10-year gilts, which had been rallying, quickly reversed course and moved into negative territory, indicating that bond vigilantes are closely monitoring the government's fiscal strategies.

This rapid reaction highlights the challenges the UK faces in managing its financial landscape amidst ongoing economic pressures.