UK Bonds Extend Slide After Truss Defends Fiscal Plans




  • In Business
  • 2022-09-29 08:12:58Z
  • By Bloomberg

(Bloomberg) --

Most Read from Bloomberg

  • Apple Ditches iPhone Production Increase After Demand Falters

  • MacKenzie Scott Files for Divorce From Science Teacher Husband

  • Germany Suspects Sabotage Hit Russia's Nord Stream Pipelines

  • Nord Stream Gas Leaks May Be a New Disaster for the Climate

  • S&P 500 Roars Back From Six-Day Slide; Bonds Surge: Markets Wrap

UK bonds extended losses after Prime Minister Liz Truss defended her new government's giant fiscal package of unfunded tax cuts, which have tipped markets into chaos.

The yield on the 10-year gilt rose as much as 21 basis points to 4.22% after she started speaking in a radio interview on Thursday morning.

The move undid part of a massive rally triggered Wednesday, when the Bank of England announced it would start buying long-dated government bonds and delay reducing its gilts portfolio to help stabilize the market.

Most Read from Bloomberg Businessweek

  • As Home Prices Surge, Americans Are Moving to Cheaper Places

  • Google's Low-Tech Plan to Solve the Opioid Crisis

  • Mental Health Crisis Leads Hospitals to Create a New Type of ER

  • The Supreme Court Is About to Display Its Power Imbalance Again

  • Fighting Inflation at the Grocery Store, German Style

©2022 Bloomberg L.P.

COMMENTS

More Related News

Taiwan Elections Set Stage for Tighter Presidential Race in 2024
Taiwan Elections Set Stage for Tighter Presidential Race in 2024

(Bloomberg) -- Taiwan is set for a more contentious presidential race focused on rising tensions with China, after low turnout in local elections handed...

FTX Chaos Prompts Reckoning on Dubai
FTX Chaos Prompts Reckoning on Dubai's Embrace of Crypto Giants

(Bloomberg) -- Most Read from BloombergNext Covid-19 Strain May be More Dangerous, Lab Study ShowsChevron to Resume Venezuela Oil Output as US Eases...

US Jobs Report Likely to Show Subtle Progress for Fed: Eco Week
US Jobs Report Likely to Show Subtle Progress for Fed: Eco Week

(Bloomberg) -- The latest reading of the US labor market on Friday is expected to show job growth on more of the downward glide path sought by Federal...

Philippines Sees Debt-to-GDP Ratio Falling to 50% by 2028
Philippines Sees Debt-to-GDP Ratio Falling to 50% by 2028

(Bloomberg) -- The Philippines expects the government's debt-to-gross domestic product ratio to decline to about 50% by 2028 due to strong economic growth...

Venezuela Factions Restart Talks, Eyeing Sanctions Relief
Venezuela Factions Restart Talks, Eyeing Sanctions Relief

(Bloomberg) -- Venezuela's battling political factions restarted negotiations on Saturday in Mexico, signing a rare deal to work together on a humanitarian...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

  • until we get iPhone hack that will open up the iPhone to third party applications we are going to have to make do with Apple iPhone software that we're allowed to play with at the moment.

    REPLY

Top News: Business