FTSE 100

Key insight

10,500 round number holding — break below triggers retest of 10,462 Oct low; gilt yields and BoE stance remain the decisive near-term lever for direction.

Stalls at 10,518 after Tue bounce to 10,593 — prior-week -2.2% rout on gilt spike unresolved; BoE rate at 3.75% and UK Chancellor's fiscal warning cap upside.

Main risk

UK Gilt Yield Spike & BoE Uncertainty

Gilt yields elevated after last week's bond selloff; BoE at 3.75% with further tightening risk — pressures FTSE valuations directly.