Worst Bond Rout in Decades Intensifies With UK Losing 27%
- Global bond index posts longest string of declines since 2016
- UK tax cut plans trigger slump in sterling, selloff in gilts
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The worst bond selloff in decades is seeing few signs of ending, with UK notes losing a stunning 27% this year, as central banks battle to stamp out the strongest inflationary pressures in decades.
The index, which tracks sterling-denominated sovereign and corporate debt, has fallen for the last seven days, including a 3.2% plunge on Monday which took it to the lowest level since 2014.