BoE's QE operation falters as investors refuse to part with bonds

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BoE's QE operation falters as investors refuse to part with bonds

The Bank of England's latest bond-buying programme has hit a wall on its second day of operations as investors refuse to sell their long-dated government bonds.

Pension funds and insurance companies – which tend to invest in long-dated UK bonds to match their liabilities – rejected the central bank's attempt to buy £1.2bn of long-dated gilts despite receiving...

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