U.K. inflation-linked debt leaves gilts exposed to bear steepening, UBS says - Investing.com Nigeria
GBP/USD — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
UOB | Bullish | 1.3445 |
Citi | Bearish | 1.2400 |
MUFG | Bullish | 1.4000 |
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U.K. inflation-linked debt leaves gilts exposed to bear steepening, UBS says Investing.com Nigeria
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4 itemsRates Spark: Hard to see a ceiling for gilt yields
ING suggests that UK gilt yields face upward pressure with no clear ceiling, driven by persistent inflation, fiscal concerns, and aggressive QT unwind from the BoE. This contrasts with a market that may be underestimating the duration risk premium needed to attract buyers.
Rates Spark: Potential relief for gilts amid a bearish bias
The desk notes a possible reprieve for UK gilts despite a prevailing bearish sentiment in the market. This perspective aligns with the anticipated results from the Bank of England's Financial Stability Report, which could bring regulatory adjustments favoring government debt securities. Per the full note [source], EU rate hike expectations are no longer fully dismissed, potentially providing support for gilts as the ECB signals a more cautious approach to monetary policy amidst ongoing inflation concerns. Given the current GBP/USD spot at 1.3500, the firm consensus targets suggest a stable outlook with some room for adjustments as macroeconomic indicators evolve.
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