U.K. Bond Bears Left Scratching Heads After BOE Decision: Chart

Bond bears in the U.K. are befuddled after the Bank of England’s guidance following its policy review on Thursday left investors none the wiser on its rate trajectory. While the central bank said that it may need to raise interest rates faster than the market is pricing, it added a caveat saying that its outlook was predicated on a smooth Brexit process. “The market clearly isn’t quite sure what to make of it,” said Andy Chaytor, head of European rate strategy at Nomura International. “There’s nothing in here which says there’s a new paradigm in place.”

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