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UK gilts on track for biggest loss since at least 1957: Reuters analysis

Cracks appear in UK gilt market as long-dated yields hit 5%
Cracks appear in UK gilt market as long-dated yields hit 5% Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
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LONDON - British government bond prices are on track for their biggest slump of any calendar month since at least 1957, according to a Reuters analysis of Refinitiv and Bank of England data.

The yield on the 10-year British government bond - which moves inversely to the price - is up 131 basis points so far this month, the biggest move on record in Refintiv records that go back to 1979.

The previous record was in September 1986, which saw a rise of 126 basis points.

The rise is larger than any seen in BoE records dating back to 1970 for 10-year zero coupon yields - for which monthly moves line up with the Refinitiv 10-year gilt series with a high degree of accuracy.

The jump in yields is also greater than any monthly move in the BoE's series for 10-year British government stock that runs from 1957 to 1970.

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