We set out three potential scenarios the chancellor could follow as she attempts to balance the books, and what each might do to bond yields and markets.

Financial deregulation has re-emerged as a significant theme, creating new opportunities but reopening familiar vulnerabilities

With the UK budget looming, gilts rallied through October – helped somewhat by an interest rate cut. There were also rate moves elsewhere, with the US and Canada cutting, while Japan and the ECB kept things on hold. Read our weekly snapshot of global fixed income markets.