gilts

M&G is to explore ways to slow inflows into Richard Woolnough's £6.3bn Corporate Bond and £5bn Strategic Corporate Bond funds.

Global equity markets are tumbling this morning as the eurozone crisis once again takes centre stage, with Spain's debt costs leaping to a new record high and speculation returning Greece will exit the single currency.

Spooked investors nervous about the outlook for major economies around the globe are buying record amounts of short-term assets.

Stronger than expected employment data could not prevent Wall Street selling off at the open this afternoon.

The yield on UK gilts has fallen to a new record low during trading today, as demand for safe havens picks up once again following indecision from the Fed over expanding its stimulus programme.

M&G's Richard Woolnough said the possibility of another £375bn in asset purchases by the Bank of England means gilt yields could remain at record lows for years to come.

The Bank of England will continue with its quantitative easing programme until it owns all of the gilt market not controlled by life companies, according to Schroders' Gareth Isaac.

Gold could be the best asset class to own in 2013 if inflation starts to pick up following major stimulus programmes from central banks, Fidelity's global strategist Andrew Wells has said.

The UK Treasury has called off its weekly gilt auctions for a four-week period between mid-July and mid-August during the Olympics.

Scottish ministers could soon have the power to issue their own bonds, chief secretary to the UK Treasury, Danny Alexander, is set to tell the Glasgow Chamber of Commerce today.