PMI improvement supports Bank of England rate hike, UK government bonds decline

According to Golden Ten Data on April 23, PMI data shows that the economic situation of the UK's private sector has improved, providing a basis for the Bank of England to raise interest rates this year. As a result, government bond prices fell. Traders have raised their expectations for interest rate hikes by the Bank of England, now forecasting two 0.25 percentage point increases this year, with a 50% chance of a third increase.