Recent Budget has wide-ranging implications for UK gilts market

The Debate

The manipulative 2006 Budget keeps 50-year yield levels very low for gilts

This week's Conjecture focuses on the UK's fixed interest market as well as the implications the recent Budget. Taking part were Ian Williams of Charteris Treasury Portfolio Managers, who runs the Close Finsbury Enhanced Gilt fund, Quentin Fitzsimmons, head of government bonds at Threadneedle Investment Management, and Vincent Chailley, head of global bond and currency management at Credit Agricole Asset Management. Was the Budget a good or bad thing for gilts? Ian Williams (IW): It may have been a manipulative Budget for gilts on the basis that Gordon Brown seems to have quite deliberat...