US firm Pimco, the biggest bond trader in the world, plans to reduce its exposure to UK government gilts, as well as US Treasury bonds.
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Forget about the coup and the chill wind from Iceland – now Gordon’s got gilts to worry about
Gordon Brown’s troubles over Labour party plotters and Icelandic debt refuseniks might have been widely covered last week, but you can bet that the prime minister was just as unnerved by an announcement that made rather fewer headlines.
