Bond market: Forget the crystal ball and focus on the easy win

Rishi Sunak hasn't had much to crow about lately, what with a desperate-looking reshuffle, followed by a defeat at the Supreme Court over his plan to send asylum seekers to Rwanda. One thing the Prime Minister has been keen to claim as a success, however, is the drop in inflation, which fell to 4.6% in October.  The reality is the fall in energy prices is primarily responsible for the retreat in the headline figure - not anything Number 10 has done. And let's not forget food inflation is still in double digits, keeping pressure on struggling households.  Yet existing UK bond investors...