Sterling: Has the Breaking Point been Reached?

However, more recently, sterling’s continued decline has not
coincided with lower gilt yields.
 The benchmark 10-year Gilt yield has risen 22 bp over the
past week.  It is true that interest rates broadly have risen, but nothing like the UK has experienced.
 The US 10-year Treasury yield has risen
eight basis point in the same period.  The 10-year Germany Bund yield has
risen seven basis points.  After the UK, Canada has seen the second
biggest increase in its 10-year yield, and it has risen 12 bp.

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