Aiding recovery: Pedestrians wearing face masks pass the Bank of England in London. The bank is helping to keep bond yields in check through its asset-purchase programme. — AP
LONDON: The United Kingdom will sell a record amount of government debt this year as the country battles the economic fallout from the coronavirus, testing the level of market demand for its bonds.
The Debt Management Office (DMO) announced plans to sell another £50bil of gilts (US$61.9bil), bringing its issuance this fiscal year through August to £275bil. A survey of primary dealers forecast £412bil pounds of issuance for the year.
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