Four people with knowledge of conversations involving the UK Cabinet believe some ministers will move today, Politico Playbook reports. As many as six ministers could ask for the PM to outline his exit plans at the Cabinet meeting.

The speculation about potential cabinet movements in the UK signals possible volatility in UK equities and fixed income, especially if ministers push for a clearer outline of the Prime Minister's exit strategy. This could indicate political instability, which often leads to risk aversion and impacts investor sentiment across the FTSE 100 and UK gilts. Traders should monitor reactions closely, as shifts in political dynamics can influence broader market trends.