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Bloomberg
Investors are slowly coming to terms with the sheer size of the UK government’s borrowing needs over the next few years and it doesn’t look pretty.
Net gilt supply in the next fiscal year is likely headed for an all-time record, according to bank estimates. For Citigroup Inc. strategists, the increase means the market needs to find twice as much new private cash to absorb it as it has over the last eight years combined.
According to the Debt Management Office, the UK’s gross financing projection over the next four fiscal years will rise almost 50% to £1 trillion ($1.2 trillion).