Borrowing short to repay long, the Bank of England and Bank of Japan are leading the abandonment of long-term bonds, shifting towards high-frequency "interest rate gambling."
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Governments of major economies around the world are quietly adjusting their debt strategies, increasingly moving away from traditional long-term bonds and instead embracing shorter-term debt.
Leading this trend are the UK and Japan. According to reports, the UK this year has cut the issuance of its long-term government bonds to
