投资者权衡英国财政风险，英镑保持稳定。周四，英镑兑美元汇率保持稳定，鉴于英国政府债券拍卖需求疲软，投资者权衡了对英国财政状况的担忧。

Sterling holds steady as investors weigh UK fiscal risk.The pound held steady against the dollar on Thursday, as investors weighed up concerns about Britian's finances, in light of weaker demand at a UK government bond auction.

英国10年期国债收益率升至4.7%，反映出对财政政策和政治不确定性的担忧加剧。工党领袖凯尔·斯塔默的盟友袭击了大曼彻斯特市长安迪·伯纳姆，此前他承诺将增加400亿英镑的借款。伯纳姆表示，工党不应“受制于债券市场”，并暗示将与科尔宾合作，这引起了激烈的批评。英国借贷成本的攀升速度快于德国或美国，使财政大臣雷切尔·里夫斯几乎没有财政空间。最近的金边债券拍卖突显了这种压力：由于投资者怀疑里夫斯平衡支出计划和财政规则的能力，对5年期、9年期和30年期债券的需求跌至多年低点。在数据方面，9月份的标准普尔全球采购经理人指数显示，私营部门活动明显放缓，服务业增长放缓，制造业进一步萎缩。英格兰银行保持利率不变，保持谨慎立场，市场预计下一次降息将在2026年进行。

The UK 10-year gilt yield rose to 4.7%, reflecting heightened concerns over fiscal policy and political uncertainty. Labour leader Keir Starmer’s allies attacked Greater Manchester mayor Andy Burnham after he pledged to boost borrowing by £40 billion. Burnham said Labour shouldn’t be “in hock to the bond market” and hinted at working with Corbyn, drawing fierce criticism. UK borrowing costs have climbed faster than in Germany or the US, leaving Chancellor Rachel Reeves with little fiscal headroom. Recent gilt auctions underscore the strain: demand for 5-, 9-, and 30-year bonds slumped to multi-year lows, as investors doubted Reeves’ ability to balance spending plans with fiscal rules. On the data front, September’s S&P Global PMI showed a marked slowdown in private-sector activity, with services growth easing and manufacturing contracting further. The Bank of England left interest rates unchanged, maintaining a cautious stance, with markets pricing in the next rate cut only in 2026.

CBI分销贸易调查记录的加权余额为-29%，与8月份的-32%相比变化不大，低于市场预期的-26%，零售商预计下个月将进一步下跌（-36%）。年销售额已连续一年下降，突显出该行业面临的持续疲软的需求状况。今年同期的销售额再次被评为“糟糕”，10月份的前景甚至更为疲软。在线销售额大幅下降（-24%，而8月份为+3%），批发销售额也下降得更快。汽车行业跌幅最大（-67%）。9月份的总分销销售量下降速度更快（-35%），尽管预计10月份的下降将有所缓解。CBI经济学家Martin Sartorius表示，需求疲软、美国关税和高营业税继续给该行业带来压力，敦促政府在秋季预算中避免进一步负担，以恢复信心。

The CBI Distributive Trades Survey recorded a weighted balance of -29%, little changed from August’s -32% and below market expectations of -26%, with retailers expecting a deeper fall next month (-36%). Annual sales volumes have now fallen for a full year, highlighting the persistently weak demand conditions facing the sector. Sales for the time of year were again judged “poor,” and October’s outlook is even weaker. Online sales volumes swung lower (-24% vs +3% in August), while wholesale sales also fell faster. Motor trades saw the steepest drop (-67%). Total distribution sales volumes fell at a faster pace in September (-35%), though the decline is expected to ease in October. CBI economist Martin Sartorius said weak demand, US tariffs, and high business taxes continue to weigh on the sector, urging the government to avoid further burdens in the Autumn Budget to restore confidence.

英格兰银行在短期回购中分配了创纪录的871.5亿英镑。周四，英格兰银行在其每周短期回购操作中分配了创纪录的871.49亿英镑（1171.9亿美元）的七天资金，高于两周前创下的830.85亿英镑的纪录。

Bank of England allots record 87.15 billion pounds in short-term repo.The Bank of England on Thursday allotted a record 87.149 billion pounds ($117.19 billion) in seven-day funds in its weekly short-term repo operation, higher than a previous record of 83.085 billion pounds set two weeks ago.