UK Government Bonds Decline as Long-Term Yields Rise on Brent Crude Price Surge
Deep News
Apr 16
UK government bonds relinquished earlier gains, with long-term bond yields climbing as crude oil futures prices advanced.
The 30-year bond yield rose by as much as 6 basis points to 5.55%.
The 2-year bond yield increased by 2 basis points to 4.25%.
This movement coincided with a sharp rise in trading volume for a key UK government bond futures contract.
Brent crude oil reached a daily high, surpassing $98 per barrel, following reports that the U.S. must abandon "excessive demands" in negotiations.
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