Woolnough: What Moody's downgrade threat means for gilts

M&G Investments' bond manager Richard Woolnough has backed gilts to shrug-off Moody's downgrade warning released earlier this week.

Woolnough, manager of the £5.3bn Optimal Income fund as well as a number of other portfolios, said with only moody's putting the UK on notice, yields should remain fairly steady. He expects gilt yields...