Gilt yields drop ahead of Sept syndication as BoE holds steady

By Craig McGlashan
03 Aug 2017

Gilt yields dropped on Thursday after the Bank of England’s Monetary Policy Committee voted 6-2 to hold the Bank Rate at 0.25% — a higher majority than the 5-3 in favour of holding at its last meeting in June. The more dovish result came after weeks of hawkish noises emanating from the central bank. Meanwhile, the Province of Alberta returned to the sterling market to tap its debut issue from earlier this year.

The fall in Gilt yields could lead to cheaper borrowing costs when the UK Debt Management Office holds its next syndication, which is planned for the first half of September and will be of a conventional bond in the 40 year area or longer. The yield on the ...

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