SSA bankers shrug off rates mayhem

By Mike Turner
15 Aug 2019

The two to 10 year section of the Gilt market inverted on Wednesday and 30 year US debt yields fell below 2%, strengthening portents that the UK is headed for a recession, though SSA bankers showed no concern about the moves.

The UK sovereign’s two and 10 year curve inverted for the first time since the global financial crisis, with two year Gilts trading at 0.466% on Wednesday mid-afternoon while their 10 year counterparts were at 0.455%.

“The 2s/5s curve inverted last month,” said a bond trader. “It’s hardly surprising ...

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