CREDIT DAYBOOK AMERICAS: BOE Warning Rattles Global Bond Market

The Bank of England reiterated on Wednesday a warning that the central bank will end its emergency gilt purchases as planned at the end of this week, sending a shiver around already-fragile global bond markets.

• “Investors fear further selling from UK LDI managers in response to margin calls, including selling of USD high grade credit. There was some evidence of this selling yesterday,” JPMorgan strategists led by Eric Beinstein wrote Wednesday
• US high-grade issuers who stood down Tuesday may look to tap the market again. The backdrop is more inviting, with equity futures higher, Treasury yields nearly steady and a ...