The yields on the United Kingdom government bonds, or gilts, declined on Wednesday following weaker-than-expected data on the country's services and manufacturing activity seemingly causing concerns about the economic stability in Britain.
According to the preliminary report by S&P Global and the Chartered Institute of Purchasing & Supply, the activity in the services sector in August dropped to its lowest point in over seven months, with the country's manufacturing sector falling to a three-year low owing to "sharp" decline in production volumes.
The return on the 10-year gilt plunged 10.9 basis points to 4.538% at 2:40 pm CET. The yield on the two-year gilt was down 12.5 basis points to 5.016% at the same time. The return on the 30-year gilt increased by 8.1 basis points to 4.7554% a minute later.
