We have seen steeper yield curves, that is a global phenomenonCause of steeper yield curve reflects greater uncertainty on trade policySteeper yield curve also reflects uncertainty on fiscal policyIt's good that he acknowledged things on the fiscal side as well. The public sector net borrowing data earlier today showed that UK borrowing surged higher to £20.7 billion in June this year. That's the second-highest June number on record, with only the Covid pandemic era beating it. Alongside higher yields and stubborn inflation, chancellor Rachel Reeves is going to be under heavy pressure ahead of the autumn Budget.Head on over to investingLive (formerly ForexLive) to get in on the know! This article was written by Justin Low at investinglive.com.