A note out from Blackrock's global unconstrained bond team
Blackrock have added some more UK gilts to their books as they see further purchases by the BOE. They also add that they are modestly long the pound.
Gilt yields were crunched into the vote but have since put in some small semblance of a recovery. It looks more like treading water than anything else and that's probably reflective of most UK related assets right now (FTSE aside). Blackrock are obviously hoping for an extra dose of UK QE to profit into but I'm still not sure we're going to be getting straight up bond buying QE from the BOE but more economically targeted measures.
The response from the MPC was pretty much as expected and the big fat action target is still squarely on August's meeting. We'll only just start to get some post-Brexit data between now and then and it's going to be fun to watch if the data doesn't collapse in the face of Brexit.