Russ Mould of A J Bell says that Rachel Reeves' Budget was delivered with an eye on the bond markets. Fortunately for her, the 10-year gilt has been steady since, even if it is higher than when Labour took over and has moved in a different direction to BoE interest rates. All equity investors have an interest in gilt yields, whether they know it or not. Russ reckons this year could be the UK's best performance since 2009. Derided as being dull for being heavy with banks, miners and emerging markets, those have all been good performers, while the once-popular dividend compounders have seen only 1 in the top 20 risers. They got ahead of a sensible value.

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