The Bank of England concluded its gilt market operation - buying a total of £1.450bn of paper in today’s auction.
The bank said it had purchased a total of £1.321bn of conventional and £129.4m of index-linked gilts in today's auction - taking the total amount of bonds it has purchased under its scheme to a total of £19.26bn, comprising of £12.074bn of conventional and £7.185bn of index-linked gilts.
30-year gilt yields stood at 4.782% at 4:15pm today - up 50 basis points from a low point of around 4.25% at midday today but only a little higher than the close of 4.548% yesterday. They are still considerably lower than the highs on Wednesday, when yields breached the 5% barrier.
This comes as prime minister Liz Truss appointed Jeremy Hunt as the new chancellor following the sacking of Kwasi Kwarteng today (14 October).
