FTSE 100 Index slips as UK bond yields surge and HSBC earnings miss
Invezz·- The FTSE 100 Index declined for four consecutive days, closing at £10,225 due to surging UK bond yields and disappointing HSBC financial results. - UK bond yields, particularly the ten-year yield at 5.10% and the 30-year yield at 5.80%, are rising amid economic concerns and inflation, while HSBC's poor earnings report and significant losses further pressured the index. - The index has formed a double-top pattern, and technical analysis suggests a potential continued decline, with key support at £9,500 and resistance at £10,500.UK public inflation expectations fell in April: survey
Businesstimes News·- In April, short-term and long-term inflation expectations among Britons unexpectedly declined, according to a YouGov survey for Citibank. - Short-term expectations fell from 5.4% in March to 5%, while long-term expectations decreased from 4.5% to 4.2%. - The report suggests that these figures do not provide a strong basis for a more hawkish policy from the Bank of England, as inflation expectations may stabilize with a more orderly recovery in energy markets.