Gilt Yields Fall, Tracking Treasurys; U.S. PCE Inflation Data Awaited
Dow Jones
Yesterday
0736 GMT - Yields on U.K. government bonds, or gilts, fall, tracking moves in U.S. Treasurys after New York Fed President John Williams on Tuesday said he sees no need to rush to increase interest rates. Focus now turns to U.S. personal consumption expenditure price index data--the Federal Reserve's favored inflation measure--at 1230 GMT. The data will give a further indication on the rate outlook after markets significantly scaled back expectations of Fed rate rises following Williams' comments. U.K. quarterly GDP data was stronger than expected, with second quarter growth at 0.5%, above the consensus forecast by economists in a WSJ poll for 0.4% growth. Ten-year gilt yields fall 5 basis points to 5.347%, Tradeweb data show.
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