Gilt Trip: Did UK government bonds almost blow up the financial system?
Many Happy Returns
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What Did the Bank of England Really Do?
The Bank of England started to buy long dated gilts last week. The announcement pushed down yields and saved the prices of government bonds. But they didn't actually have to buy that much when you looked at it. It was just the threat. No one wanted to fight the central bank. And in a certain sense, we've kind of dented the car but it's not a new car anymore.
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