UK 10-year gilt yields have popped to 3.98% from 3.91% after a Bank of England bond buyback operation highlighted some potential strains.
The BOE bought just £22.1 million in the operation while £1.89 billion was offered. That's 86x and it may show there are still strains in the UK bond market.
Update: Gilt yields have risen further on this with 20 and 30-years +20 bps now.
