UK Bonds Suffer Dramatic Selloff

UK bonds suffered what it's fair to call an egregious rout on Thursday. The repricing found yields dramatically higher as gilts underperformed bunds (which were also sharply cheaper) and Treasurys (where the pressure was comparatively muted). Plainly, some of the same generic inflation, "higher-for-longer" fears were in play, along with jitters around higher crude prices, but there was something else going on Thursday. The selloff was escalatory. Note that Thursday's selloff is readily disc