© Reuters. FILE PHOTO: People walk across Millennium Bridge with the City of London financial district seen behind, amid the coronavirus disease (COVID-19) pandemic, in London, Britain, January 20, 2021. REUTERS/Hannah McKay
LONDON (Reuters) – UK corporate bond prices are headed for their biggest monthly fall since the 1990s, two indexes showed on Wednesday, as the fallout from the British government’s “mini-Budget” reverberates across markets.
The Markit iBoxx Sterling Corporate Bond Index has fallen 10.2% so far in September to a price of 296, putting it on course for its biggest monthly slide since at least 1999. The ICE (NYSE:) BofA Sterling non-Gilt Index, which measures the prices of investment grade debt, is headed for its worst monthly performance since records began in 1997. It is down 9.8% in September with a price of around 337 at Tuesday’s close.
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