Gilts Risk More Turmoil as Swift Sellers Replace Steady Buyers
Keir Starmer and Rachel Reeves.
Photographer: Jonathan Brady/Getty Images
The changing face of the UK bond market is making gilts a source of vulnerability for the government at a moment when it most needs stability.
This week alone, Britain’s central bank and fiscal watchdog have both warned of the dangers of a structural change in demand that leaves the bonds at risk of more extreme moves, or even fire sales.