UK debt chief says demand is back after mini-budget debacle

“Considering the challenges that the gilt market faced last year, the speed with which conditions have returned to normal and the extent to which the market has stabilised I think is notable,” Stheeman said. — Reuters

LONDON: Demand for British government bonds has recovered from the damage dealt by the market turmoil which followed then Prime Minister Liz Truss’ mini-budget last year, says the chief executive of the UK Debt Management Office (DMO).

Robert Stheeman, who is responsible for selling £237bil (US$295bil) of British gilts to investors this financial year, said he had been impressed by the rapid rebound.