US Treasuries have fallen on the back of Donald Trump’s tax cutting budget making its way through Congress and a downgrading of the US’s credit rating by Moody’s earlier this month. This could have an impact on UK mortgage rates down the line, which are already on the rise following higher than expected UK inflation data that week — but only if the Treasury yields prove to be sticky and lead to higher UK gilts as a result. Read more: https://on.ft.com/43gid3m