uk bond prices rose again on friday following a speech by prime minister liz truss hours after she fired her finance minister sparking more concerns about political instability among investors the yield on 10year bonds ended the week on 439 percent close to the 464 percent realised on thursday its highest level since 2008 while the rate on 30year debt climbed to 477 percent truss also on friday reversed plans to cancel an increase in the corporate tax rate that policy was a major part of her minibudget the announcement of which triggered uncertainty in the markets in late september truss insisted during a press conference following kwasi kwartengs sacking that she had acted decisively to bring about economic stability but traders appeared not to be reassured with the pound sinking and bond rates climbing unfortunately for truss her swift ability to spook markets with a swathe of unfunded spending plans is now being followed by yet another rise in yields as markets wonder whether we could soon see another push to replace her said joshua mahony an analyst at ig the bond market is also digesting the end of the bank of englands boe longterm bondbuying programme initiated a few days after kwartengs budget announcements to prevent a vicious circle of forced sales by pension funds the bank bought £1925 billion about 2216 billion euros of bonds while 30year rates have fallen since the programme began on september 28 they are dangerously close to the 514 percent peak reached on that day the boe governor earlier in the week pledged that the buyback programme would not be extended the british business community welcomed trusss intervention apparently settling for higher taxes in exchange for more stable markets the instability of recent weeks has paused investment and hit livelihoods so it was important today that the government responded to those market concerns the cbi lobby group said in a statement in the weeks to come government plans will need to continue to restore fiscal credibility to give markets and business confidence to invest it added