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Wayne Duggan

Bank Of England Begins Purchasing UK Bonds To Stabilize Market, 10-Year US Treasury Rates Hit 4%

Bank of England US Treasury United Kingdom Bonds United States US Federal Reserve

Bond market volatility continued on Wednesday morning after the Bank of England stepped in to take action to stabilize spiking U.K. gilt yields.

What Happened? U.K. government bonds were on track for their largest monthly rise since 1957, but the Bank of England announced it will suspend its planned bond selling next week and begin buying long-dated bonds. The bond market volatility ramped up starting last Friday when new U.K. Prime Minister Liz Truss announced a bold stimulus program that includes tax cuts and investment incentives.

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One subscription that gives you access to news from hundreds of sites

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Hurricane Isaias live updates: airports close in Alabama and Florida as category 3 storm nears Gulf coast

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