Reported 25 days ago
Vanguard, the world's second-largest asset manager, announced on Friday that it has purchased UK government bonds after a significant price drop triggered by the new Labour government's budget. Moving from an 'underweight' to a 'neutral' position on gilts, Vanguard believes the sell-off's extent is limited. The budget's tax increases and increased spending led to a spike in bond yields, which Vanguard is capitalizing on as they reassess their portfolio.
Source: YAHOO