Gilts post best week since July after run of poor economic data

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Financial Times 3d ago

Gilts post best week since July after run of poor economic data - Financial Times

Quick Summary:

The rally in UK government bonds continued on Friday after official figures showed retail sales unexpectedly dropped in December, raising the risk the economy contracted at the end of last year.

But traders betting on rate cuts were encouraged by a speech earlier this week by one of the central bank’s rate-setters that it might need to cut rates five or six times over the coming year to support the economy.

That took the UK’s borrowing costs to a 16-year high last week, the higher yields attracting a wave of retail investors but also forcing chancellor Rachel Reeves to defend her economic plans before MPs.