PIMCO says it still likes UK gilts, chances of fiscal contraction growing By Reuters

LONDON (Reuters) – PIMCO, one of the world’s biggest bond capitalists, stated it is still favorable concerning UK government bonds amid a high market-sell off, adding that much of the rise in returns has actually been driven by the united state Treasury market.

“Although UK-specific aspects, such as the spending plan, have actually contributed to the surge, most of the rise has been driven by surges in united state Treasury yields throughout the same period,” PIMCO financial expert Peder Beck-Friis told Reuters late on Wednesday.

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