Yesterday’s UK’s 15-year Gilt deal was a 15 times oversubscribed blowout success, demonstrating global investors have confidence in the UK’s competence, stability and markets. However, Ray Dalio is writing another book about why countries go bust, and reckons the UK is caught in a debt-death spiral. I doubt it.
The Middle East is Burning. The US economy faces supply chain crisis. The UK’s young workers can't afford to live. Lets argue about how to settle and trade UK Gilts instead. It will look like we’re doing something….
The well-respected head of the UK’s Debt Management Office, Sir Robert Stheeman, retires this year. His successor will need tact, diplomacy and technical experience to maintain the DMO’s reputation for handling the Gilt Market. Continuity is paramount, and one candidate stands out for the role.
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