Thursday, March 19, 2009

Feel free to copy, there is no copyright on an Anoneumouse montage. (click on image to enlarge)

Darling Yields

According to a statement today, the Bank of England as part of its £75 billion-pound asset purchase plan will start to buy investment-grade corporate debt from March 25, in sizes of as much as 5 million pounds at auctions held four days a week,

The purchases will be part of the government’s so-called quantitative easing strategy (printing money). The Bank of England started buying commercial paper in February and government bonds last month, sending 10-year gilt yields to a record low.

All this on the same day that the Government posted its biggest budget deficit on record. Total borrowing for the 11 months of this fiscal year reached a record £75.2 billion - three times higher than at the same point in the previous year. Times


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