UK bonds lead global markets in August

UK corporate debt denominated in all currencies returned 3.25% last month, the most in a year. It was also the best among the 10 countries making up almost 90% of the $6.2trn Bank of America Merrill Lynch Global Broad Market Corporate Index, Bloomberg reports. Santander's Abbey National and supermarket giant Tesco led the gains, returning as much as 12.7%. The spread for UK corporates over benchmark government bonds narrowed four basis points to 237 in August, compared to a six basis point rise for US company debt. UK government bonds also rallied strongly, returning 4.7% last mont...