Yields rise after chancellor replaced and BoE ends gilt market operations

BoE’s bond market operations conclude

Jonathan Stapleton
clock • 1 min read
Conclude after buying a total of nearly £20bn of paper.
Image:

Conclude after buying a total of nearly £20bn of paper.

The Bank of England concluded its gilt market operation - buying a total of £1.450bn of paper in today’s auction.

The bank said it had purchased a total of £1.3bn of conventional and £129.4m of index-linked gilts in today's auction - taking the total amount of bonds it has purchased under its scheme to a total of £19.3bn, comprising of £12.1bn of conventional and £7.2bn of index-linked gilts.

30-year gilt yields stood at 4.8% at 4:15pm today - up 50 basis points from a low point of around 4.3% at midday today but only a little higher than the close of 4.5% yesterday. They are still considerably lower than the highs on Wednesday, when yields breached the 5% barrier.

This comes as prime minister Liz Truss appointed Jeremy Hunt as the new chancellor following the sacking of Kwasi Kwarteng today (14 October).

More on UK

MPs to put Bank of England independence under scrutiny in inquiry
UK

MPs to put Bank of England independence under scrutiny in inquiry

30 years on

clock 24 September 2026 • 2 min read
Airtel Money confirms plans to float on LSE
UK

Airtel Money confirms plans to float on LSE

Seeking valuation of $9bn

clock 23 September 2026 • 2 min read
OCO Global's Andrew Webb: How Bank of England could help ease Healey's fiscal bind
UK

OCO Global's Andrew Webb: How Bank of England could help ease Healey's fiscal bind

‘Radical’ option

Andrew Webb
clock 23 September 2026 • 2 min read
Trustpilot