Goldman Trader Explains What The Gilt Meltdown Means For Global Bonds

The latest Gilt gyrations and explosion in yields...

... have brought (unwelcome) attention to the growing pressure of borrowing costs on public finances. However, this is not a UK-specific issue. It is a global issue that was top of mind until Q4 2023. At that point, central banks stole the thunder with a growing dovish narrative that culminated with a near record number of cuts being delivered in the second half of 2024.