BoE Governor Andrew Bailey at the IMF event in DC is telling pension funds that they have until Friday to get their financial homes in order as the BoE will no longer be intervening. “My message to the funds involved and all the firms is you’ve got three days left now. You’ve got to get this done.” Long end US Treasuries are selling off (stocks of course following) in sympathy and the pound reversed its daily gain. Hopefully the market can find its own price discovery from here.
Intraday 10 yr Yield move