Andrew Bailey’s high-risk strategy isn’t proving to be a winner. The governor’s announcement that the Bank of England does not intend to extend the emergency purchase plan beyond Friday’s scheduled deadline led to a spate of UK government bond sales.
Yields on 30-year gilts increased 24 points to 5.01%, 20-year maturities rose 27 points to 5.19%, the highest since 2002, while 10-year gilts hit a 4.6%, the point …
