UK markets whipsaw as confusion reigns over pension support

UK bonds fell while the pound rose as investors digested a deeply uncertain policy outlook from both the Bank of England (BOE) and Liz Truss’s government.

The yield on 30-year gilts -- bonds issued by the UK government and favoured by the pension funds at the heart of recent market stress -- rose as much as 18 basis points to 4.98 per cent after a BOE spokesperson confirmed it plans to end its bond-buying intervention ...