damn i should buy some 10 year gilts
September 29, 2026 at 1:10 PM
damn i should buy some 10 year gilts
10 year gilts have hit 5.4% and I've just seen someone arguing the bond markets are totally chill.
Seen for the last time, though, I need that kind of delusion on my timeline like I need flat earthers, or Joanna Southcote True Believers
Seen for the last time, though, I need that kind of delusion on my timeline like I need flat earthers, or Joanna Southcote True Believers
September 29, 2026 at 1:06 PM
10 year gilts have hit 5.4% and I've just seen someone arguing the bond markets are totally chill.
Seen for the last time, though, I need that kind of delusion on my timeline like I need flat earthers, or Joanna Southcote True Believers
Seen for the last time, though, I need that kind of delusion on my timeline like I need flat earthers, or Joanna Southcote True Believers
📉 #Bonds
"Gilts extended gains across the curve, with benchmark UK 10-year yields almost 7bps lower as oil and natural gas prices fell to new lows on the day. The moves followed reports that EU officials do not expect the US to ban diesel exports and that Qatar is holding meetings with the…"
"Gilts extended gains across the curve, with benchmark UK 10-year yields almost 7bps lower as oil and natural gas prices fell to new lows on the day. The moves followed reports that EU officials do not expect the US to ban diesel exports and that Qatar is holding meetings with the…"
Gilts Lead European Bonds Higher as Energy Prices Retreat
Gilts extended gains across the curve, with benchmark UK 10-year yields almost 7bps lower as oil and natural gas prices fell to new lows on the day. The moves followed reports that EU officials do not expect the US to ban diesel exports and that Qatar is holding meetings with the US and Iran over the conflict in the Middle East.
www.bloomberg.com
September 29, 2026 at 12:00 PM
📉 #Bonds
"Gilts extended gains across the curve, with benchmark UK 10-year yields almost 7bps lower as oil and natural gas prices fell to new lows on the day. The moves followed reports that EU officials do not expect the US to ban diesel exports and that Qatar is holding meetings with the…"
"Gilts extended gains across the curve, with benchmark UK 10-year yields almost 7bps lower as oil and natural gas prices fell to new lows on the day. The moves followed reports that EU officials do not expect the US to ban diesel exports and that Qatar is holding meetings with the…"
💷 Burnham warned careless conference pledge could trigger fresh borrowing-cost shock📈
londonlovesbusiness.com/burnham-warn...
#UKEconomy #AndyBurnham #Gilts #Bonds #Markets #Investing #Budget
londonlovesbusiness.com/burnham-warn...
#UKEconomy #AndyBurnham #Gilts #Bonds #Markets #Investing #Budget
Burnham warned careless conference pledge could trigger fresh borrowing-cost shock - London Business News | Londonlovesbusiness.com
Andy Burnham's conference speech could shake UK borrowing costs. Learn about the potential impact on the bond market and finances.
londonlovesbusiness.com
September 29, 2026 at 11:59 AM
💷 Burnham warned careless conference pledge could trigger fresh borrowing-cost shock📈
londonlovesbusiness.com/burnham-warn...
#UKEconomy #AndyBurnham #Gilts #Bonds #Markets #Investing #Budget
londonlovesbusiness.com/burnham-warn...
#UKEconomy #AndyBurnham #Gilts #Bonds #Markets #Investing #Budget
💷 Burnham warned careless conference pledge could trigger fresh borrowing-cost shock📈
londonlovesbusiness.com/burnham-warn... @nigeljgreen.bsky.social
#UKEconomy #AndyBurnham #Gilts #Bonds #Markets #Investing #Budget
londonlovesbusiness.com/burnham-warn... @nigeljgreen.bsky.social
#UKEconomy #AndyBurnham #Gilts #Bonds #Markets #Investing #Budget
Burnham warned careless conference pledge could trigger fresh borrowing-cost shock - London Business News | Londonlovesbusiness.com
Andy Burnham's conference speech could shake UK borrowing costs. Learn about the potential impact on the bond market and finances.
londonlovesbusiness.com
September 29, 2026 at 11:58 AM
💷 Burnham warned careless conference pledge could trigger fresh borrowing-cost shock📈
londonlovesbusiness.com/burnham-warn... @nigeljgreen.bsky.social
#UKEconomy #AndyBurnham #Gilts #Bonds #Markets #Investing #Budget
londonlovesbusiness.com/burnham-warn... @nigeljgreen.bsky.social
#UKEconomy #AndyBurnham #Gilts #Bonds #Markets #Investing #Budget
Again I still don't follow you. So the assets will not be owned by pension funds that wouldn't mean they disappeared. THe gilts will still exist. Also I am not convinced that auto enrolment will produce lower returns and pensions. Most private sector employees never had DB schemes.
September 29, 2026 at 11:15 AM
Again I still don't follow you. So the assets will not be owned by pension funds that wouldn't mean they disappeared. THe gilts will still exist. Also I am not convinced that auto enrolment will produce lower returns and pensions. Most private sector employees never had DB schemes.
Most private pensions in payment are defined benefit. The assets producing returns are owned by the fund, not the pensioner. The funds are running down, so UK stock markets and gilts underperform.
September 29, 2026 at 10:51 AM
Most private pensions in payment are defined benefit. The assets producing returns are owned by the fund, not the pensioner. The funds are running down, so UK stock markets and gilts underperform.
Gilts are having a (relatively) good September, and some investors like what they are hearing from the conf so far...
Signalling an end to the triple lock would "send a strong message about being willing to make politically difficult choices", one bond investor told me
www.ft.com/content/6481...
Signalling an end to the triple lock would "send a strong message about being willing to make politically difficult choices", one bond investor told me
www.ft.com/content/6481...
September 29, 2026 at 10:21 AM
Gilts are having a (relatively) good September, and some investors like what they are hearing from the conf so far...
Signalling an end to the triple lock would "send a strong message about being willing to make politically difficult choices", one bond investor told me
www.ft.com/content/6481...
Signalling an end to the triple lock would "send a strong message about being willing to make politically difficult choices", one bond investor told me
www.ft.com/content/6481...
It *is* a fund.
HMRC choose to place it on the DMA (and indeed transferred the gilts back in 2006). You saying its not a piggy bank doesn't really mean anything tbh. Its not a mattress either.
www.dmo.gov.uk/responsibili...
HMRC choose to place it on the DMA (and indeed transferred the gilts back in 2006). You saying its not a piggy bank doesn't really mean anything tbh. Its not a mattress either.
www.dmo.gov.uk/responsibili...
National Insurance Fund Investment Account
National Insurance Fund Investment Account
www.dmo.gov.uk
September 29, 2026 at 9:33 AM
It *is* a fund.
HMRC choose to place it on the DMA (and indeed transferred the gilts back in 2006). You saying its not a piggy bank doesn't really mean anything tbh. Its not a mattress either.
www.dmo.gov.uk/responsibili...
HMRC choose to place it on the DMA (and indeed transferred the gilts back in 2006). You saying its not a piggy bank doesn't really mean anything tbh. Its not a mattress either.
www.dmo.gov.uk/responsibili...
Sin embargo, una población activa que crece más despacio podría mantener persistente la inflación de servicios, elevar el listón de la productividad y atraer un escrutinio más estrecho de los planes de déficit por parte de los inversores en gilts.
September 29, 2026 at 8:14 AM
Sin embargo, una población activa que crece más despacio podría mantener persistente la inflación de servicios, elevar el listón de la productividad y atraer un escrutinio más estrecho de los planes de déficit por parte de los inversores en gilts.
Une main-d'œuvre à croissance plus lente risque toutefois de figer l'inflation des services et de placer la barre plus haut en matière de productivité. Elle exposerait aussi les plans de réduction du déficit à un examen plus serré des investisseurs en gilts.
September 29, 2026 at 8:12 AM
Une main-d'œuvre à croissance plus lente risque toutefois de figer l'inflation des services et de placer la barre plus haut en matière de productivité. Elle exposerait aussi les plans de réduction du déficit à un examen plus serré des investisseurs en gilts.
Las expectativas de una política más restrictiva suelen lastrar los precios de los gilts mientras sostienen a la libra. Eso da a la actualización de Wellington una audiencia que va mucho más allá de Nueva Zelanda.
September 29, 2026 at 7:03 AM
Las expectativas de una política más restrictiva suelen lastrar los precios de los gilts mientras sostienen a la libra. Eso da a la actualización de Wellington una audiencia que va mucho más allá de Nueva Zelanda.
Les anticipations d'un resserrement monétaire tendent à peser sur les prix des gilts tout en soutenant la livre. La publication de Wellington s'adresse donc à un public bien au-delà de la Nouvelle-Zélande.
September 29, 2026 at 7:02 AM
Les anticipations d'un resserrement monétaire tendent à peser sur les prix des gilts tout en soutenant la livre. La publication de Wellington s'adresse donc à un public bien au-delà de la Nouvelle-Zélande.
Für Euro-Anleger hängt der Ertrag eines Gilts von Anleihekurs und Wechselkurs ab – Inflationswarnungen können beide gegenläufig bewegen. Erwartungen einer strafferen Geldpolitik belasten tendenziell die Gilt-Kurse und stützen das Pfund.
September 29, 2026 at 7:01 AM
Für Euro-Anleger hängt der Ertrag eines Gilts von Anleihekurs und Wechselkurs ab – Inflationswarnungen können beide gegenläufig bewegen. Erwartungen einer strafferen Geldpolitik belasten tendenziell die Gilt-Kurse und stützen das Pfund.
The US 10-year Treasury yield just hit 5.2%, its highest since 2007. The Fed has raised rates, while Treasury has hired David Zervos, a vocal advocate for cuts. Is it AI demand for capital or fiscal worry? Either way, gilts and SME borrowing costs feel the pull.
#InterestRates
#InterestRates
Scott Bessent Is Betting AI Can Beat Inflation as Warsh's Fed Starts Hiking
The Treasury and the Fed are looking at the same economy and seeing two very different pictures. One side thinks AI is quietly keeping prices in check. The other just raised rates, and says it might d...
www.thebusinessindex.co
September 28, 2026 at 7:44 PM
The US 10-year Treasury yield just hit 5.2%, its highest since 2007. The Fed has raised rates, while Treasury has hired David Zervos, a vocal advocate for cuts. Is it AI demand for capital or fiscal worry? Either way, gilts and SME borrowing costs feel the pull.
#InterestRates
#InterestRates
Gilts are beginning to outperform a bit:
September 28, 2026 at 3:45 PM
Gilts are beginning to outperform a bit:
Words absent from Chancellor's conference speech: tax, China, European Union, Hormuz, oil, gas, universities, productivity, gilts, America. 13 union(s), 7 miner(s). Curious.
September 28, 2026 at 12:56 PM
Words absent from Chancellor's conference speech: tax, China, European Union, Hormuz, oil, gas, universities, productivity, gilts, America. 13 union(s), 7 miner(s). Curious.
Jo eh, aber aufgrund ihres Statements vielleicht gilts ja doch...
September 28, 2026 at 11:40 AM
Jo eh, aber aufgrund ihres Statements vielleicht gilts ja doch...
BoE's Ramsden: BoE sales to start with longest maturity 2035-49 gilts
September 28, 2026 at 10:16 AM
BoE's Ramsden: BoE sales to start with longest maturity 2035-49 gilts
RAMSDEN ANNOUNCED THAT THE BANK OF ENGLAND WILL BEGIN SELLING GILTS WITH MATURITIES RANGING FROM 2033 TO 2049.
September 28, 2026 at 10:15 AM
RAMSDEN ANNOUNCED THAT THE BANK OF ENGLAND WILL BEGIN SELLING GILTS WITH MATURITIES RANGING FROM 2033 TO 2049.
Partner Insight: From gilts to grids - Five themes shaping the U.K. investment landscape
incm.pub/46I4kvC
incm.pub/46I4kvC
September 28, 2026 at 9:33 AM
Partner Insight: From gilts to grids - Five themes shaping the U.K. investment landscape
incm.pub/46I4kvC
incm.pub/46I4kvC
Sometimes it makes sense to look at absolute yield levels rather than chasing the highest spread. Over the course of the last 30 years or so, would one have been mostly ecstatic having a 5.9% 30y Gilt in the books that was bought at par? Clearly. I’d buy Gilts outright. Requires less praying.
September 28, 2026 at 9:26 AM
Sometimes it makes sense to look at absolute yield levels rather than chasing the highest spread. Over the course of the last 30 years or so, would one have been mostly ecstatic having a 5.9% 30y Gilt in the books that was bought at par? Clearly. I’d buy Gilts outright. Requires less praying.
What serves as collateral for short term repo? Gilts. How much overcollateralisation is required? It depends.
September 28, 2026 at 6:04 AM
What serves as collateral for short term repo? Gilts. How much overcollateralisation is required? It depends.
Again:
a) The market rate for gilts is 5%. Why would I accept 1%?
b) I don't say £6bn, you did. Where's your x5 come from? And it's still a very much lower number than £250bn.
You've a mad idea. Madder than Sikka.
a) The market rate for gilts is 5%. Why would I accept 1%?
b) I don't say £6bn, you did. Where's your x5 come from? And it's still a very much lower number than £250bn.
You've a mad idea. Madder than Sikka.
September 27, 2026 at 9:56 PM
Again:
a) The market rate for gilts is 5%. Why would I accept 1%?
b) I don't say £6bn, you did. Where's your x5 come from? And it's still a very much lower number than £250bn.
You've a mad idea. Madder than Sikka.
a) The market rate for gilts is 5%. Why would I accept 1%?
b) I don't say £6bn, you did. Where's your x5 come from? And it's still a very much lower number than £250bn.
You've a mad idea. Madder than Sikka.
In the run up to PREFU:
"it happens to be the case that the OBR scores gilts issuance and not collapsing school walls and flooding, but both of them are predictable future expenses"
"it happens to be the case that the OBR scores gilts issuance and not collapsing school walls and flooding, but both of them are predictable future expenses"
concrete and fiction
the accounting system as mental prison, once more
backofmind.substack.com
September 27, 2026 at 8:59 PM
In the run up to PREFU:
"it happens to be the case that the OBR scores gilts issuance and not collapsing school walls and flooding, but both of them are predictable future expenses"
"it happens to be the case that the OBR scores gilts issuance and not collapsing school walls and flooding, but both of them are predictable future expenses"