According to @CNBC, global markets are on edge ahead of the UK government’s budget, with traders focused on sterling (GBP), UK gilt yields, and the FTSE 100 for immediate price discovery. According to @CNBC, key market drivers include the Office for Budget Responsibility growth and borrowing forecasts, the size and tenor mix of net gilt issuance, and whether tax or spending changes remain within the fiscal rules. According to @CNBC, these factors will directly shape expectations for the Bank of England’s rate path and term premium, putting both front-end and long-end gilts in the spotlight for rate-vol and curve moves. According to @CNBC, FX desks are preparing for headline risk in GBP/USD and EUR/GBP around the announcement window, especially if borrowing needs or issuance calendars are revised. According to @CNBC, the cross-asset volatility from UK rates and FX is closely watched by digital asset traders for potential spillovers to risk sentiment and crypto liquidity conditions.