UK Faces Record Net Bond Sales, Warns Nation’s Debt Chief
- Market is clearly ‘volatile, stressed’, says DMO’s Stheeman
- Pension funds’ risk-management strategies were not ‘adequate’
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The UK’s net bond sales are set to be the highest in history for the coming fiscal year, according to the nation’s debt chief.
The view from Robert Stheeman is in line with forecasts by bank strategists, who worry the jump in supply could renew the pressure on gilts seen in recent weeks. Stheeman, the chief executive of the Debt Management Office, was speaking to Parliament’s treasury committee after last month’s mini-budget sparked turmoil across markets.