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DIAL - Tradeweb Government Bond Update - August 2020
Columbia Diversified Fixed Income Allocation
After months of plummeting yields, 10-year government bonds experienced a sell-off in August. Leading the pack was the UK's 10-year Gilt yield, which closed the month 22 basis points higher at 0.31%. The country's economy entered its deepest recession on record, as gross domestic product plunged by 20.4% in the second quarter of 2020, the steepest fall in Europe. At its August 6 meeting, the Bank of England voted unanimously to leave the key bank rate at a record low of 0.1% and the size of its asset purchases at GBP 745 billion.