UK Bond Demand Smashes Record as Investors Clamor for Yield
- The sale of a 20-year gilt follows global debt rally
- Demand only eclipsed by nation’s debut green bond in 2021
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The UK attracted its biggest-ever orderbook for a conventional bond sale on Wednesday as investors look to lock in high rates while they still can.
A sale via banks for £7 billion ($8.7 billion) of a new gilt maturing in 2043 attracted over £93 billion in orders, according to people familiar with the matter, with investors citing a relatively cheap valuation. That’s the highest demand for a UK bond, apart from a debut deal for green debt in 2021.