scorecardresearch
UK government bond yields fall after U-turn on tax

UK government bond yields fall after U-turn on tax

Thirty-year gilt yields were down by about seven basis points, falling as low as 3.750%.

Thirty-year gilt yields surged on Kwarteng's "mini-budget" on Sept. 23 before falling when the Bank of England launched an emergency bond-buying plan Thirty-year gilt yields surged on Kwarteng's "mini-budget" on Sept. 23 before falling when the Bank of England launched an emergency bond-buying plan

Yields on British government bonds fell on Monday after new finance minister Kwasi Kwarteng reversed course on a controversial tax cut that had helped to speak a rout in the gilt market.

Thirty-year gilt yields -- which surged on Kwarteng's "mini-budget" on Sept. 23 before falling when the Bank of England launched an emergency bond-buying plan -- were down by about seven basis points, falling as low as 3.750%.

Published on: Oct 03, 2022, 1:03 PM IST
Posted by: Mehak Agarwal, Oct 03, 2022, 12:57 PM IST