Markets cast judgement on the outlook for the UK- FTSE 100 facing an uncertain opening

The FTSE 100 fell to below its 200 day moving average at one point yesterday afternoon. As noted that was in place at 8,079 and the index dropped to set a 8,070. However, it did not stay down there for very long and rebounded into the close, ending the session at 8,110, with a loss of 49 points on the day. The main driver for this was all about higher UK yields. The 10 year note lifted to reach 4.52% at one point. It is off that high right now this morning though, currently at around 4.44% The 200 day moving average on the FTSE 100 shifted by the time of the close last night and was in place at 8,082 then. As mentioned here yesterday, the hitherto outlook for the Bank of England to lower interest rates next week has seriously been derailed now. The potential impact of the Budget measures on UK business is very much in doubt and as you can see the markets appear to have cast judgement on that and it is not positive right now. S, the FTSE 100 is not currently priced to open higher this morning