Mann, Monetary Policy Member of the Bank of England: I still have doubts about how tight financial conditions in the UK really are.

Goldman Sachs CEO Solomon: There is no latest news on the sale of fintech lending company GreenSky.

Kekai International CEO: The economy is on the verge of recession.

Goldman Sachs CEO Solomon: Over the past few months, clients have been avoiding risk.

Goldman Sachs CEO Solomon: I have always been surprised by the resilience of the US economy.

UK gilts were broadly lower, with the 10-year yield up 10 basis points to 4.34%.

Goldman Sachs CEO Solomon: Capital market activity may start to pick up in 2024.

Mann, Monetary Policy Member of the Bank of England: Inflation expectations have moderated since May.

Bank of England monetary policy member Mann: British inflation expectations are still too high.

Goldman Sachs CEO Solomon: There is a great possibility that interest rates will rise.

Goldman Sachs CEO Solomon: We can solve the problem in a more moderate way.

EUR/GBP extended its gains on the day against the pound to 0.50% and was last at 0.8592.

Bank of England Monetary Policy Committee Mann: Service sector inflation reaching 3% "is a problem for the UK".

Bank of England monetary policy member Mann: 4% wage growth poses a challenge to restore CPI to 2%.

Mann, Monetary Policy Member of the Bank of England: Price inflation in the service sector is also a concern for achieving the 2% CPI target.

Mann, Monetary Policy Member of the Bank of England: Since May, core commodity and food prices have unexpectedly risen.

United Kingdom: First summer Heathrow strike delayed as workers vote on proposals for improvements.

U.S. Treasuries retreated, with 10-year and 30-year yields rising to session highs.