Key points from the 2019 Q1 Asset Purchase Facility Report
During 2019 Q1:
- No corporate bond purchases took place during the quarter
- There were £8.022 billion of gilt purchases made during the quarter as part of a programme to reinvest the cash flows associated with the maturity on 7 March of the 4.5% 2019 gilt owned by the APF
- During 2019 Q1 nominal gilt yields fell on average, by around 25 basis points
- Sterling investment-grade non-financial corporate bond spreads narrowed by 19 basis points over 2019 Q1
- Gross issuance of corporate bonds by UK private non-financial corporations in 2019 Q1 was very marginally lower than in 2018 Q1.