UK debt agency boss says gilt market ready for 2022 challenges


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LONDON — Britain’s 2 trillion-pound ($2.64 trillion) government bond market is in good shape to take whatever 2022 might throw at it, the head of the country’s debt agency told Reuters on Wednesday.

Earlier the Debt Management Office said it planned to issue 124.7 billion pounds of gilts in the coming 2022/23 financial year – less than most primary dealers had expected in a Reuters poll that pointed to issuance of 147 billion pounds.

New forecasts presented by British finance minister Rishi Sunak on Wednesday showed borrowing in the financial year just ending is on track to be much lower than previously expected, reducing debt issuance needs for the coming year.

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DMO Chief Executive Robert Stheeman said the remit had been…

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