All Gilts articles
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White papersGlobal Sovereign Bonds: Watching the new Fed Chair
This article is part of the Fixed Income Quarterly Outlook for Q3 2026, covering Emerging Market Debt, Euro Credit, Euro High Yield, Sovereign Bonds and US Agency Mortgage-Backed Securities.
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White papersAs risks rise, short end can offer shelter and yield
As pressure builds on the longer end of the curve, the case for short-duration credit has become increasingly compelling.
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White papersRisk assets face off with rising global bond yields
The recent interest rate turmoil has driven long‑dated government bond yields to notable historical extremes, with U.S. 30-year yields hitting their highest level since 2007, 30-year JGBs since their introduction in 1999, UK gilts since 1997, and German bunds since 2011. Yet, simultaneously, equities have absorbed the rise in yields without too much damage, supported by a strong earnings environment. That resilience should not be taken for granted, however, as the balance of risks is becoming increasingly finely poised.
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White papersRising global bond yields: The test for risk assets
Global bond markets have sold off sharply in recent weeks, pushing long-end yields to multi-decade highs across major markets. U.S. 30-year yields hit their highest level since 2007, 30-year JGBs since their introduction in 1999, UK gilts since 1997, and German bunds since 2011.
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White papersStarmer Drama - ‘It’s not about who’s in charge - it’s about the maths’
In the latest Fixed on Bonds blog, Lloyd Harris examines the structural forces behind rising gilt yields, highlighting how markets are responding to debt dynamics, fiscal constraints and policy credibility, rather than political headlines alone.
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White papersTalking Markets – Inflation, central bank policy and the changing shape of bond market
Inflation isn’t fading into the background, it’s redefining how investors think about fixed income.
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White papers360°, H1 2026: Is this what it sounds like when doves cry?
Read our latest 360° fixed income report to learn more about our credit team’s outlook for macro, fundamental and technical forces.
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VideoContingent capital; a strong case in today’s fixed income market
In this edition of Talking Markets Lloyd Harris, Head of Fixed Income at Premier Miton, discusses how stronger bank capital positions and post‑crisis regulation continue to reshape the contingent capital landscape. He shares why CoCos are increasingly compelling for income‑focused investors, offering a robustness that has held up well through recent market stresses.
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WebinarWebinar replay: How global macro factors and geopolitical events are feeding through to debt markets
Lloyd Harris, Head of Fixed Income at Premier Miton, looks at the key forces shaping debt markets today, from global macro trends to geopolitical developments, and how these influences feed into the team’s strategic investment approach. He also outlines his outlook for the months ahead and highlights where he sees the most compelling opportunities across fixed income.
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VideoTalking Markets – Premier Miton (Ireland) Global Dynamic Credit Fund
What will steer bond markets in the months ahead? Lloyd Harris, Fund Manager of the Premier Miton (Ireland) Global Dynamic Credit Fund, shares why he believes the US is poised to stimulate both the economy and markets, and what this could mean for interest rates, credit spreads and bond valuations. He also considers the geopolitical risks currently sitting in the background, how these could feed through into higher commodity prices, and why that matters for inflation and bond investors.
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White papersCapturing the European Risk Premia Dislocation
When the facts change, we change our minds. The ‘liberation day’ sell-off increased the value proposition of non-U.S. markets, particularly in Europe and Asia. This is no longer the case.
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White papersUK long-dated yields at 25-year highs
Yields on long-term government bonds in developed markets have been rising this year. In the UK, 30-year gilt yields reached their highest level since 1998, driven by inflation worries and concerns over government debt — though the UK’s debt-to-GDP ratio remains below that of some large European countries. Structural changes, such as fewer pension scheme buyers, add further complexity.
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White papersA Choppy Start to a Year of Uncertainties
The first two weeks of 2025 perfectly illustrate why we see a wide dispersion of potential outcomes for the year, and advocate staying nimble and diversified.
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White papersFixed Income Outlook – Come what may
Once gain the US bond market will lead global fixed income markets in 2025, with a strong US economy but uncertainty over the new administration’s policies setting the tone. We expect the US economy, over time, to pivot towards structurally slower growth and stickier core inflation. This more ‘stagflationary’ trajectory may result in the Federal Reserve taking a more cautious approach towards further rate cuts.
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White papersDo elections really matter to investors?
Investors seek to track the evolution of the economic fundamentals that serve to anchor asset returns over a long-term time horizon. We look at what they are.
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White papersUK outlook brightens as rate cuts loom
The Bank of England held rates at 5.25% this week, but its accompanying statement made clear that, given the broader outlook for inflation, the prospect of rate cuts this summer has increased.
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White papersInvestors Cannot Ignore the Debt-Sustainability Question
Despite a pullback in bond yields, clients at our Solving for 2024 event were still uncertain about how to invest in a world of runaway government debt.
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White papersUp then (marginally) down again
Markets rose earlier in the week on hopes of an interest rate freeze from the world’s central banks; only to reverse course on the back of less dovish outlooks from the US Federal Reserve and the Bank of England.
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PodcastThe Investment Podcast: Dissecting the fallout from the gilt crisis
Just over a year has passed since the gilt market turmoil of September 2022, sparked by the UK government’s so-called ‘mini-budget’. The fallout from the crisis, as the pound fell and gilt yields spiked, prompted an emergency intervention by the Bank of England to restore orderly market conditions against a global backdrop of high inflation and rising interest rates. A significant change in asset class demand dynamics ensued as pension funds sought to meet collateral calls for their LDI mandates.
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White papersStubbornly high inflation sends bond yields higher
UK inflation fell by less than forecast in April, Wednesday’s data revealed, prompting expectations of further interest rate hikes, and pushing bond yields to their highest levels since October.
