Institution: Future UK Chancellor of the Exchequer candidate expected to drive trends of UK government bonds and the pound.

Nick Wood of MillTech stated in a report that British investors are eager to know who will be appointed as Chancellor of the Exchequer, as current Chancellor Rishi Sunak is likely to be replaced after Prime Minister Keir Starmer resigned from office this week. "For market confidence, the Chancellor's appointment may be as important as the new Prime Minister," he said. Investors are eager to learn about the economic policies of the new leadership team. With no other contenders emerging, frontrunner for the position of Prime Minister Andy Burnham seems increasingly likely to be appointed to the leadership position unopposed.