Rachel Reeves is due to deliver her next Budget on 26 November

Gilt market jitters in the run-up to the Budget bled into demand at government bond auctions for the first time on Thursday, as sales of bonds saw interest from investors hit its lowest in at least two years.

Auctions of five- and 30-year gilts issued by the Debt Management Office (DMO) this week attracted the lowest number of orders since at least 2022, in a fresh worry for the Treasury as it puts the finishing touches to its second Budget in November.

Despite long-term government borrowing costs surging to their highest level this century last month, demand for UK debt at auction had been holding up better than many analysts expected. The same week when the yield on 30-year gilts surged to the highest its been since 19

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