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World

Could negative gilt yields be Boris Johnson's magic money tree?

20 May 2020

11:56 PM

20 May 2020

11:56 PM

A few months ago, Boris Johnson fought a general election saying that there was no ‘magic money tree’ and accusing Jeremy Corbyn of naively believing otherwise. This morning, something strange sprouted from the economic undergrowth, looking very much like a magic money tree. Britain sold its first long term bonds with negative yields: ie, sold at an average of -0.003

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