UK bond yields do monster spike and are affecting US markets

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UK Bond Yields Do Monster Spike

UK Bond Yields Do Monster Spike, Pound Plunges as Bond Vigilantes Rise from Graves, Go after Government’s Fiscal Recklessness Bank of England: won’t "hesitate" to hike rates "as much as needed." Bond market fears much higher inflation and interest rates, for much longer. The one-year yield on UK gilts spiked by a monstrous 65 basis points today to 4.16% at the moment, bringing the spike that started on Tuesday to 121 basis points. He said to the world – practically daring the bond vigilantes to come out of their graves – when asked about the plunge of the pound and the spike in yields last week, that he wasn’t focused on market moves. "They’re tasked to deal with inflation," he said. " The MPC will not hesitate to change interest rates by as much as needed to return inflation to the 2% target sustainably in the medium term, in line with its remit."

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