UK sells 1and 3 month bills today with negative yield
First time since 2017, via Bloomberg
- This follows last weeks sale of 6 months bills at -0.0005%.
Aside from Dec 2020 contract implied yields on all of short sterling contracts out to September 2023 are below zero with 2 and 5 yr gilt yields also having negative yields.
A BoE shift to negative rates increasingly priced in.
10 year UK gilt yields at 0.167.