Gilts sell off accelerates, putting pressure on sterling
A sell off in the British government bond market accelerated on Monday amid nerves about political instability, pushing the yield on the 10-year gilt to its highest since the Brexit vote in June and weighing down on the battered pound.
Sterling's near 20 percent sharp drop since the Brexit vote has sent inflation expectations soaring, driving investors to reassess chances of further easing by the Bank of England this year. It also led some analysts to say that foreign investors were demanding an extra premium before buying gilts.
The benchmark 10-year gilt yield was at 1.17 percent, up... read more
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