Last week, the 10-year gilt yield rose to 4.93% – a level not seen since the 2008 financial crisis. On the same day, the 30-year gilt yield soared to 5.37%, the highest level since 1998. There is a heady cocktail of reasons behind the hike, including bank rates, inflation forecasts, government policies and the Bank of England’s reversal of quantitative easing. The result will bring little cheer to the property industry, however.
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