European Bond Market: UK Gilts Decline on PMI Data, Inflation Figures in Focus
Deep News
Dec 17
UK gilts underperformed European and US peers on Tuesday as December PMI data pointed to brighter economic prospects in Britain.
After paring intraday losses, UK bonds closed lower, with yields rising 1-2 basis points across the curve. Traders shifted focus to Wednesday’s UK inflation report.
German bund yields fell 1 basis point, tracking US Treasuries after the US unemployment rate climbed to a four-year high.
Market Snapshot:
- German 10-year yield steady at 2.85%
- German bund futures down 3 ticks to 127.55
- Italian 10-year yield up 2 bps to 3.55%
- Italy-Germany spread widens 2 bps to 70 bps
- French 10-year yield down 2 bps to 3.55%
- UK 10-year yield rises 2 bps to 4.52%
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