UK Markets

UK Markets Chart Book

14 March, 2018

Sell-off in gilts abates

The sell-off in gilts, which saw the 10-year yield rise from 1.2% at the end of 2017 to a peak of close to 1.7% by mid-February has abated. The benchmark yield is now back around 1.5%. Indeed, the economic data has disappointed over the past month or so, and, following the release of the Treasury’s Debt Management Report alongside the Spring Statement, we know that future gilt issuance will be more limited than was previously expected. But we doubt the upward trend in gilt yields that we saw a

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