Financial Times: bitcoin > gilt

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We can’t believe we’re writing this….. but long-term inflation-linked gilts have now crashed even harder than every online bro’s favourite digital “asset”.

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An 80 per cent drawdown for a UK government bond in less than a year. The conventional vanilla UK gilt maturing in 2071 is down 70 per cent over the same period. In price terms, that is a drop from trading at a peak of about 150 pence on the pound in early December to 46 pence now. In yield terms, that is a move from a low of 0.5 per cent to 4.2 per cent today.

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here's a list of assets that you would have lost less money owning year-to-date compared to UK inflation-linked 2073 bond: Ukraine GDP warrants, Belarus 2023 USD bond, shares in Meta or Peloton, and Bitcoin. pic.twitter.com/CJAyb0ag1n(opens a new window) — Simon Hinrichsen (@simonh_dk) October 11, 2022

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