Markets adjusting under shifting fiscal and monetary signalsThe week carried a sharp edge, with markets caught between familiar signals and unfamiliar undertones. Investors found themselves navigating a mix of steady policy language and emerging fiscal concerns, a blend that reshaped risk perception across currencies, bonds and equities. Monetary policy was steady, yet the silence around timing left investors reading between the lines. Gilt markets reacted quickly, with yields pushing higher as investors demanded greater compensation for holding longer-dated risk. Sterling, meanwhile, adjusted downward, a reminder that currency markets remain unforgiving when fiscal and monetary policy appear at odds.