BoE starts sales of bonds bought during emergency gilt operation

Unlike prior gilt sale operations where there is a fixed amount to be raised, the BoE will sell long-maturity and index-linked gilts based on market demand to avoid hurting markets.  The temporary purchases of long-dated UK government bonds began from 28 September "to restore orderly market conditions" after Liz Truss' package of unfunded tax cuts sparked a gilts sell-off.  The bonds were bought as part of the Bank's financial stability mandate to reduce the danger of "fire-sale" dynamics, in which pension funds rushed to meet margin calls.  Given that markets are already dealing w...