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Macroeconomic News

UK yields rise by most since mid-Sept in global bond sell-off

Fri, 10th Nov 2017 16:52

LONDON, Nov 10 (Reuters) - British government bond yields posted their biggest one-day rise in almost two months on Friday, dragged higher by similar moves in U.S. and European markets as investors cashed in on early November's bond rally. The 10-year gilt yield was up 7 basis points on the day at 1.34 percent as of 1630 GMT, marking the biggest daily increase since Sept. 15 - a day after the Bank of England first flagged an interest rate hike that it delivered last week. Yields rose across the range of British bonds, particularly for longer-dated paper. The premium that 10-year gilts offer over the equivalent German Bund widened by 3 basis points on the day to 93 bps, pushed up by stronger-than-expected British industrial production data. U.S. Treasury yields also rose sharply on Friday. Dec long gilt future 124.31 (-0.82) Dec 2017 short sterling 99.455 (-0.005) March 2018 short sterling 99.38 (-0.01) 10-year gilt yield 1.34 (+7.4 bps) -------------------KEY MARKET DATA--------------------------- Long Gilt futures Gilt benchmark chain Short Stg futures Cash market quotes Deposit rates Sterling cross rates UK debt speedguide -------------------KEY MARKET REPORTS-------------------------- Gilts Sterling Euro Debt Dollar U.S. Treasuries Debt reports --------------------GILT STRIPS DATA ------------------------- Gilt strips data All gilt strips Gilt strips IO Gilt strips PO (Editing by Kevin Liffey)

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