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The government would struggle to find buyers for UK bonds.
The UK bonds were approved and promoted by IPM, a Financial Conduct Authority-regulated company.
UK bonds look rather good by comparison with what could yet happen in the eurozone.
The spread for UK bonds against eurozone bonds jumped to its widest in a year.
So would an investor with £13m in UK bonds, get £1m of Scottish debt or would they have a choice?
But it's above the rate on UK bonds (2.17%) and way above the rate on US bonds (1.88%).
Similar(44)
After an early rise, UK bond yields have sunk back to Friday's levels - suggesting the downgrade has had no short-term impact on British borrowing costs (borrowing for 10 years costs around 2.1% a year).
From the UK bond market point of view, interest rates are not likely to move but gilt yields could rise if the new government thinks allowing some fiscal slippage is an acceptable price to pay for staying in power.
GW 6.10pm BST Robert Wood, chief UK economist at Berenberg Bank, argues that Mark Carney will struggle to keep UK bond yields down because of the impact of America's monetary policy: He says that US Treasury yields will be driven higher as the US Federal Reserve tapers, or slows, its asset purchases -- and UK market rates are likely to follow suit.
UK bond yields are low because growth is so appalling that the markets have no expectation that the monetary policy committee will be able to raise interest rates for years, and because we have our own central bank that can initiate quantitative easing.
Bio-Suite CM 10 μm CXC cation exchange HPLC column 7.5 × 75 mm was obtained from Waters (Herts, UK), Bond-Elut 500 mg C18-EWP solid-phase columns from Varian (Varian Inc., Yarnton, Oxford, UK) and C18-zip tips were from Millipore (Herts, UK).
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