Governor of the Bank of England Andrew Bailey has offered his insights on the gilt yield crisis – ignore it. After Starmer surrounded himself with high-tax fanatics Torsten Bell and Minouche Shafik, 30-year gilt yields soared to 5.7%. The highest in 27 years…
Bailey told the Treasury Select Committee this afternoon:
“It’s important not to focus too much on the 30-year-bond rate. It’s a number that gets quoted a lot. It is quite a high number but it is not what is being used for funding at all at the moment actually. There is a lot of dramatic commentary on this but I wouldn’t exaggerate the 30-year bond rate.”
Not sure the markets will be reassured by that…
Kemi Badenoch at the 1922-ConHome bash last night:
“I did praise [Burnham] for his stamina, it was amazing. All I had to do was sit back and lie there. I didn’t have to do anything at all…”