The central bank’s desire to buy all of the bonds is running right into the fact that not everyone wants to sell them, no matter how badly the Brexit-scarred country needs them to.
On the second day of its new program, the U.K. central bank said it could only buy £1.12 billion ($1.5 billion) of gilts. It said that it wanted to buy £1.17 billion of government bonds, or gilts….
“It would be tough to buy more than £1 to £2 billion a quarter,” said Mike Amey, head of sterling portfolio management at Pimco. “The challenge is the U.K. corporate bond market is not that big.”