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UK corporate borrowing costs soar as mini-budget fallout spreads

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Reuters UK

By Tommy Wilkes and Dhara Ranasinghe LONDON (Reuters) -Borrowing costs for UK firms are soaring, with sterling corporate bond prices headed for their biggest monthly fall since the 1990s as fallout from the British government’s “mini-Budget” grows. The Bank of England on Wednesday said it would start a temporary programme of long-dated UK government bond purchases to try to stabilise the market. That, according to Vanguard credit portfolio manager Sarang Kulkarni, in turn helped ease conditions slightly in the investment grade bond market. Nonetheless, average yields there are still close to 7…

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