Inflation expectations have not materially changed versus the previous quarter, hence the higher yields are driven by higher real yields as opposed to higher inflation.
Inflation has continued to decrease in Q3 albeit still significantly higher than the Bank of England’s 2% target for CPI.
The shape of nominal and real gilt yields has shifted over the past quarter. The short-term nominal curve shows a decrease in yields for tenors under 7 years, while yields for longer tenors have increased by 15-20 basis points.
Financial Conduct Authority approves AlphaReal social infrastructure fund under new anti-greenwashing rules.
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