Foreigners Offloaded UK Bonds at Record Pace After Budget Tumult
- Overseas investors sold £29 billion of gilts over two months
- UK’s 10-year yields rose to a 14-year high in October
This article is for subscribers only.
Data from the Bank of England showed foreigners sold a record amount of gilts in September and October, as after-shocks from the UK’s ill-starred “mini-budget” pulsed through UK debt markets.
Overseas investors dumped almost £29 billion ($34.8 billion) of government bonds during the two-month period, exceeding the previous record sum set in 2009 by almost half, the BOE’s data show.