Our view that the combination of very low interest rates, deflationary pressures and large-scale official purchases of bonds would push gilt yields sharply lower has been strongly borne out over recent weeks. But we think the rally probably has even further to run. We continue to expect 10 year yields to drop to around 2.5% and to remain at those sorts of levels for a prolonged period.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.