Yields on two-year U.K. gilts reached a peak some 0.4 percentage points above those... Indeed, just two years ago, the U.K. looked like it might beat the U.S. to raise rates first. The idea that the U.S. and the U.K. were talking not long ago about raising rates seems almost quaint right now, with yields plumbing record lows in the wake of the Brexit vote. Globally, the exit from emergency monetary policy has rarely looked further off.

Source: Wall Street Journal July 04, 2016 09:11 UTC