EconomyGilts Steady as Investors Await More Policy Details From Burnham

UK government bonds moved only slightly as investors waited for further policy details from new Prime Minister Andy Burnham. Weak economic data reduced expectations that interest rates would rise. Burnham later appointed former Defense Secretary John Healey as Chancellor of the Exchequer. Healey has argued for higher military spending, yet markets broadly regard him as a safe pair of hands because of his previous Treasury experience. Investors were assessing the implications as European markets opened.