Forbes (November 16)
“The looming prospect of no-deal Brexit is already spooking markets. Sterling tanked today, and the cost of CDS protection on U.K. government debt rose. Shares in Britain’s state-owned bank RBS fell by 9%.”
Tags: Brexit, CDS protection, Debt, Gilts, Looming, Markets, No-deal, Prospect, RBS, Shares, Spooking, Sterling, Tanked, U.K., UK
Euromoney (March 24)
“The UK economy seems at last to be suffering from the erosion of purchasing power by sterling-induced inflation. All of this smacks of stagflation, a constitutional crisis and rising political risk. UK gilts will suffer.”
Tags: Constitutional crisis, Economy, Erosion, Gilts, Inflation, Political risk, Purchasing power, Stagflation, Sterling, Suffering, U.K.
Financial Times (May 30)
“US benchmark borrowing costs plunged to levels last seen in 1946 and those for Germany and the UK hit all-time lows as investors took fright at what they see as a disjointed policy response to the debt crisis in Spain and Italy.” Ten year yields fell to 1.62% on U.S. Treasuries and to 1.64% on UK gilts, the lowest since the start of recordkeeping in 1703. Meanwhile, yields on two-year German bunds hit zero, another first.
