Bank of England to stop bond buying program in 3 days: according to Andrew Bailey

The news has been happening quickly this week in regards to the ongoing bond crisis in the United Kingdom. Where yields have spiked, and created collateral problems for many of the British pension funds.

Earlier this week the Bank of England expanded the amount of bonds the bank could buy, and also included inflation-linked bonds in the type of bonds they were able to buy. Although late Tuesday afternoon Bank of England governor Andrew Bailey warned the funds that they have 3 days to clean up their positions and that the Bank of England will be stepping away at the end of the week.

Whether that actually happens as scheduled will be interesting to watch, but for a quick update on what’s going on, click to watch the video now!