Rathbones Asset Management has cut its exposure to UK government bonds (gilts), according to Bloomberg and the Financial Post. The decision is linked to speculation around Labour mayoral figure Andy Burnham and the possibility that he could expand public spending and increase borrowing. Both outlets describe the move as a risk-management step aimed at limiting potential losses if market conditions worsen in response to higher expected government debt issuance. In the sources, the concern centers on the potential for a selloff in gilts—typically driven by rising investor expectations for larger deficits, higher borrowing needs, or changes in fiscal credibility. The reporting characterizes Rathbones’ reduction of gilt holdings as a precaution against volatility that could follow any policy direction associated with increased spending. The two articles present the same core information: Rathbones has lowered its UK government bond holdings to mitigate downside risk under a scenario involving greater borrowing, with no additional details on the size of the reduction or specific timing provided in the excerpts.