U.K. Bonds Celebrate as Spread to U.S. Widens to 15-Year High

  • Gilts return 12% in first half, more than double Treasury gain
  • El-Erian says bond yields point to slower economic growth

U.K. bonds are closing the first half with a 12 percent gain, more than double what Treasuries have returned, on concern Britain’s decision to leave the European Union will drive the nation into recession.

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