The Bank of England is set to buy bonds in a bid to address recent market tumult. The move caused an immediate reaction, with bond prices both in the U.K. and other markets rallying, sending yields lower. The pound rallied at first against the dollar but then slid further to trade down around 0.6% to $1.066. The U.S.’s benchmark 10-year government bond yields fell to 4.004% after the announcement, from 4.552% before, an outsize move for what is normally a staid corner of the market. The pound rallies at first, but then slides further to sell at around $1,066 per pound. The UK’s 10-yields fell to . . .
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