UK launches massive bond programme for next 3 months

Britain's government plans to sell more government bonds over the next three months than it had previously planned for the entire financial year to fund a surge in public spending in the face of the coronavirus crisis. The UK Debt Management Office said on Thursday it planned to issue 180 billion pounds ($222.43 billion) of bonds between May and July.

Previously, it had been planning to sell 156.1 billion pounds of bonds between April 2020 and March 2021. "This higher volume of issuance is not expected to be required across the remainder of the financial year," Britain's finance ministry said. ($1 = 0.8093 pounds)