Bank of England Rejects All Offers, Quantitative Easing Fails to Lower Yields in UK

The Bank of England threw a Quantitative Easing Party today, but no one showed up with acceptable bids.

Please consider Bank of England Rejects Offers Against 8.75% 2017 Gilt After Yield Move
The Bank of England rejected all bids against the 8.75 percent 2017 gilt that it planned to buy today as part of its quantitative-easing program.

“The Bank has decided to reject all offers against UKT 8.75 25/08/17 following significant changes in its yield in the run up to the auction,” the central bank said in a statement today.
UK Yields

UK Yield Curve

Chart and Table courtesy of Bloomberg Government Bond Rates.

Mike "Mish" Shedlock
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