Sell the fact in gilts?

It turns out that managing the bond market was as easy as sacking the finance minister and a u-turn on a corporate tax cut.

There's a u-turn in gilts today as yields rise to the highs of the day as bond holders sell-the-fact on Kwarteng's departure. Today is also the final day of the BOE's emergency bond buying program. One take on all this might be the belief that the BOE is now finished and that no new program is planned, with the government hoping the change in policy will do the trick.

With the turn in the UK bond market, there's some selling in Treasuries and equities as well.