British yields above resistance level
Very simple chart showing parallel channel of the UK bond market trending down since the 1980s with the yellow line at 4.2% seeming to be a key line of historic resistance.
Back in October 2022 the UK bond market had a severe problem which ultimately led to the resignation of the Prime Minister Liz Truss. The issue was causing pension funds to experience extreme financial stress. The Bank of England had to come to the rescue and buy Gilts. The level we are at now on this 10 year yield is nearly the same.
Back in October 2022 the UK bond market had a severe problem which ultimately led to the resignation of the Prime Minister Liz Truss. The issue was causing pension funds to experience extreme financial stress. The Bank of England had to come to the rescue and buy Gilts. The level we are at now on this 10 year yield is nearly the same.
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