FTSE falls as gilt yields keep rising and dashed US rate cut hopes hit stocks
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The FTSE 100 fell on Monday amid continued market jitters over rising public borrowing costs, and as expectations for further interest rate cuts by the Federal Reserve were slashed. Much of what is happening with borrowing costs is outside of the Government’s control but with the Prime Minister being asked questions about how much faith he has in his Chancellor after only six months in the job, muck is sticking. Danni Hewson, head of financial analysis at AJ Bell, said: “Much of what is happening with borrowing costs is outside of the Government’s control but with the Prime Minister being asked questions about how much faith he has in his Chancellor after only six months in the job, muck is sticking and attempts to change the narrative aren’t working.” Friday’s strong jobs data from the US also prompted traders to pare back hopes of interest rate cuts from the Fed this year.