Markets rally after Royal Mail scheme gilt cancellation news

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Inflation-linked bonds rallied yesterday after the government announced it would cancel £9bn of linkers owned by the Royal Mail Pension Plan following the scheme's nationalisation.

The government is set to take on £28bn of RMPP assets in April, comprising £11bn of gilts of which about 80%, or £9bn, are inflation-linked. The Debt Management Office yesterday said it would lo...

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