Market Trends & Industry Dynamics - UK market experienced a "bond-currency double kill" on Wednesday [1] - UK 10-year government bond yields rose 16 basis points to 463%, the largest single-day increase since April [1] - The British pound fell 1% against the US dollar during the day [1] - The UK stock market closed down 014% on Wednesday [1] Political & Fiscal Risks - The Labour Party's U-turn on welfare reform legislation has exacerbated fiscal pressures [1] - The Labour Party's U-turn on welfare reform legislation poses a £5 billion funding gap for Chancellor Reeves' fiscal plans [1] - Chancellor Reeves' political future faces serious threats [1]