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European Morning Brief · Friday 2 October 2026

The Trade Academy Team

Oct 2

1 min read

The bond rout reaches London — and Europe's banks pay the price
The global sell-off in government debt hit Britain hardest on Thursday: the 30-year gilt yield rose above 6% for the first time since 1998, the euro fell to its lowest level of the year and European stocks closed at three-month lows, with banks down sharply. Oil added to the pressure, Brent jumping 4.4% as talks with Iran stalled, the US reportedly sent a third aircraft carrier to the region and Chinese refiners halted fuel exports. Wall Street held steady and Treasuries rallied. Today belongs to the US jobs report. — The bond rout reaches London — and Europe's banks pay the price

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