The UK’s green bond sale has already pulled in more than £24 billion of orders. The green bond last year drew a much heftier £74 billion orderbook. Yet bondholders have taken fright. 30-year bond yields are soaring above 5%. Green bonds pull in demand from specialist ethical funds. Yet this time the outlook for the UK will dominate investor thinking.

BoE has launched a temporary bond-buying programme to prevent "material risk" to UK financial stability, which could have resulted in the collapse of a swathe of pension funds. BoE will buy as many long-dated government bonds as needed to stabilise financial markets. This news had an immediate impact on the interest rates of UK government debt.