
Why Westminster is wrong about gilt yields
It’s gilts season at Westminster. This is one of those unpredictable events, like the passing of a comet, that sees the residents of the political village staring at the skies and imputing all sorts of divine causes to the curious flashing lights they see there. Because of the ongoing excitement in the markets, a lot of political folk have, in the last few days, become authoritative commentators on yield curves. Welcome to the party, guys. A very long time ago, I covered bond markets for a City newswire, and hated pretty much every minute of it. I claim no particular expertise as a result, but I am still confident in
