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Kapow! It’s back to the 1980s as the bond vigilantes get busy
Evening Standard
|June 14, 2023
Full speed ahead: Michael Keaton as Batman in the new Flash movie, with Ezra Miller in the lead role
MICHAEL KEATON may be reprising his role as Batman in the summer blockbuster Flash, but an altogether different vigilante is running roughshod over UK bond markets.
Following inflation far higher than the Bank of England predicted (again), yields on two-year gilts have risen dramatically to 4.84%. It might have escaped many people's notice given the lack of media coverage compared with last September, but interest on government borrowing is now above the level seen at the peak of the Kwasi Kwarteng fiscal fiasco.
This story is from the June 14, 2023 edition of Evening Standard.
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