UK Two-Year Gilt Yield Shows Rate Peak Could be Sooner than Expected
1333 GMT – The U.K. two-year gilt yield indicates the key rate is likely to peak and then be cut sooner than some people expect, AJ Bell investment director Russ Mould and financial analyst Danni Hewson say in a note. “The two-year gilt yield has a history of leading the Bank of England Base Rate by six to nine months,” the analysts say. “That suggests the bond markets don’t believe the Bank of England’s tough talk and thinks rates may peak and then be cut sooner than some think,” they say. The U.K. two-year gilt yield is at 3.412% according to Tradeweb, down 20 basis points from the last day of trading in 2022. ([email protected])
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January 26, 2023 09:45 ET (14:45 GMT)
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