Yields buoyant & Sonia futures are too
The general recovery in the UK on vaccine optimism has kept UK gilts yields moving higher.From Jan 04 to June 08 UK yields have moved higher by 60 bps outperforming the euro, Swiss franc, and the JPY.
So, medium term the outlook for the UK still looks good despite the recent delay to July 19 for the UK having lockdowns lifted. However, there are risks to UK upside remaining on the delta variant, a sharp rise in US yields, Scottish referendum talks, and UK trade loss in the post Brexit world.
See below for a handy sheet outlining the key positions of the board members