(Bloomberg) -- Data from the Bank of England showed foreigners sold a record amount of gilts in September and October, as after-shocks from the UK’s ill-starred  “mini-budget” pulsed through UK debt markets. 

Overseas investors dumped almost £29 billion ($34.8 billion) of government bonds during the two-month period, exceeding the previous record sum set in 2009 by almost half, the BOE’s data show. 

While the Bank of England stepped in quickly to restore order to markets, 10-year yields still surged to a 14-year peak last month after former Prime Minister Liz Truss’s spending plan in September spooked investors by proposing unfunded tax cuts. 

UK 10-year government borrowing costs have since tumbled one-and-a-half percentage points and money markets have pared wagers on the peak in interest rates to 4.7% next year from levels as high as 6.25% seen in late September in the mini-budget aftermath.

The BOE has said it will start to sell the government bonds bought as part of its emergency intervention on Tuesday in a way it says is designed to avoid causing further market turbulence.

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