Institutions: The next UK Chancellor of the Exchequer is expected to drive the movements of UK government bonds and the British pound

According to Golden Ten Data on June 24, MillTech analyst Nick Wood stated in a report that UK investors are eager to know who will be appointed as Chancellor of the Exchequer, as current Chancellor Reeves is likely to be replaced following Starmer's resignation as Prime Minister this week. For market confidence, the choice of Chancellor may be as important as the new Prime Minister. Investors are anxious to learn about the new leadership team's economic policies. As there have been no other contenders so far, leading candidate Andy Burnham seems increasingly likely to be appointed as the new Prime Minister without competition.