Fidelity, BlackRock and Schroders add to gilt allocations during Reeves linked selloff

Fidelity backs long-dated bonds

Major asset managers have been mulling their gilt allocations, with some adding to existing positions following recent yield spikes as the bond market continues to react to political uncertainty in the UK.

Fidelity, BlackRock and Schroders all added to their gilt exposure last week, after markets panicked that Prime Minister Keir Starmer was planning on ousting Chancellor Rachel Reeves after he omitted from directly answering the opposition leader if she would remain in the job until the next election as previously stated. UK gilts above Truss ousting levels as Reeves faces 'more speculative' market marred by decisions of former government The drama caused gilt yields to hit Mini Budget levels but the selloff was also driven by concerns around how the chancellor would fill the fiscal ho...