FTSE 100

Key insight

10,510 recovery stalls below Oct 1 open at 10,606 — 52-week high at 10,989 stays 4.6% away while gilt yields above 6% keep domestic banks and housebuilders under structural pressure.

Bounces +0.5% to 10,510 on weak US jobs data, but 30-yr gilt at 6% — a near-3-decade high — caps any sustained rally; index still -2.2% on the week.

Main risk

30-yr UK Gilt Yield at 6% (1998 high)

Yield at 6.03% — highest since Feb 1998 — hits rate-sensitive banks and housebuilders hardest; BoE forced to keep policy tight.