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...Balls said his funds had a larger than normal position in gilts and he was not worried about a potential borrowing splurge ahead of a general election....
...When Hargreaves Lansdown experienced the first maturity of a gilt that was widely owned on its platform last year, “we saw a significant percentage of clients reinvesting back into other gilts”, said Lee...
...Traders in swaps markets are betting on fewer than three quarter-point rate cuts by the ECB this year after strong US inflation data on Wednesday prompted a sharp repricing in interest rate expectations....
...Paul Dales, chief UK economist at the consultancy Capital Economics, said the easing in pay growth was “probably still a bit too slow for the Bank of England’s liking”, although there were “signs that a...
...The UK economy grew for the second month in a row in February, driven by expansion in manufacturing and raising hopes the UK is emerging from a technical recession....
...Traders in swaps markets continue to bet on a likely 0.25 percentage-point Bank of England interest rate cut by August and two or three cuts by the end of the year....
...Sterling extended early losses against the dollar to trade down 0.4 per cent on the day at $1.273 after the Bank of England held rates at a 16-year high of 5.25 per cent for the fifth consecutive meeting...
...Markets are pricing in two quarter-point rate cuts by the Fed in 2024 from the current 23-year high and only a 50 per cent likelihood of a third, in a dramatic reversal from the start of the year when between...
...Tuesday’s move represents a continuation of a rally triggered on Friday by growing hopes of a Federal Reserve rate cut in June following weaker economic data....
...“Growth in the US has been shown to be more resilient than in Europe,” said David Rogal, a portfolio manager at BlackRock....
...The bond can be held within a tax-efficient individual savings account and a self-invested personal pension....
...Interest rate sensitive two-year German Bund yields — a benchmark for the eurozone — held steady at 2.98 per cent, up 0.02 percentage points on the day....
...“Previously when we have had a rally of $70 to $80, it is usually accompanied by a new catalyst or risk event,” said Suki Cooper, analyst at Standard Chartered....
...Mary McDougall...
...“But we’re going to need to see data like [inflation] next week that will corroborate the pushback to [a June cut].”...
...“There is also a growing need for increased spending as we continue transitioning to a greener economy, restructuring global supply chains, boosting military expenditure and battling rising healthcare costs...
...“I don’t think we’ll see a programme of rate cuts — say, once a quarter — but a more surgical, nip-and-tuck approach,” she added....
...How can I buy a gilt?...
...The OECD said a further $1tn decrease was projected for 2024....
...of a record close....
...For Pgim’s Peters, “a stronger economy with a little inflation isn’t such a bad backdrop for corporate America . . . if you just forget everything else and focus on the fundamentals, I think the fundamental...
...That poses a potential problem for Hunt and Sunak, who hoped the BoE would start cutting interest rates well before a general election, widely expected in the autumn....
...Banks are expecting the UK to ramp up its borrowing plans in the new financial year as chancellor Jeremy Hunt prepares to announce tax cuts while Britain faces a surge in the number of existing gilts in...
...However, a closely watched gauge of long-term US inflation expectations, the five-year, five-year forward break-even rate, has remained in a tight trading range at about 2.2 per cent for the past two months...
...“Putting $50bn to $70bn or greater at risk, on a daily basis, in the world’s major currencies should be a significant concern,” warned Efama in a paper published on Thursday....
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