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UK gilts jump nearly 40 ticks after weaker BoE gilt buyback

Published August 23, 2016 Updated August 23, 2016 07:41pm

1 min

By Shoaib Ur Rehman

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LONDON: British government bond prices jumped on Tuesday after the Bank of England received fewer offers for its purchase of long-dated gilts than last week under its latest plan to give the country's economy a boost.

The BoE said it received an offer-to-cover ratio of 1.54 as it bought 1.17 billion pounds of gilts with maturities of 15-years and longer, down from 2.67 at its previous buyback for similar gilts last week.

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