Latest / Blain's Morning Porridge
Bond fears, and why slowing UK QT makes sense
Blain’s Morning Porridge 16th, Sept 2026
“Gilts are dull, boring and predicable, but utterly terrify markets when they move a fraction of basis point.”
Global Bond yields remain… fragile. As the US breaches 5% 10-year yields, the UK is now slowing QT which should be market positive. It’s high time the Bank of England and the UK Treasury (which famously pretend the other doesn’t exist) cooperate on liability management to address the UK’s debt pile – which is actually in much better shape than the right-wing press would have you believe.
An Apology: Yesterday we had a IOS problem. “Idiot on…
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