British Bond Bloodbath Despite 'Softening' Brexit Sterling Bounce
It appears Theresa May’s mild concession to the opposition to debate Brexit has done nothing to stop the selling in bonds as Gilt yields spike to Brexit levels despite a bounce in the pound.
- *DAVIS: NO ONE WILL BE ABLE TO VETO BREXIT REFERENDUM RESULT
Speaking in Parliament on Wednesday, May promised lawmakers would get to debate her negotiating strategy for Brexit. When asked explicitly during her weekly questions session whether there would be a vote, May refused to rule it in or out. “The idea that parliament wasn’t going to be able to discuss, debate, question issues around” Brexit was “frankly completely wrong,” May said, over interruptions. “Parliament’s going to have every opportunity to debate this issue.”
It seems the ‘debate’ has done nothing to stop the carnage…
With 10Y Gilt yields spiking to pre-Brexit “MP is dead” highs…
Even as 5Y5Y inflation breakvens limp back modestly off spike highs.
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