British bonds maintain losses on retail sales drop

Markets 4/19/2018, 12:32 PM
British bonds maintain losses on retail sales drop

Gilts traded significantly lower on Thursday, leaving yields in the green following a disappointing statistical report about last month's retail sales in the United Kingdom. The headline figure for March alone has dropped 1.2%, more than erasing previous gains, while both the total and core annual growth rates slowed to 1.1%, from 1.5% and 1.2% respectively.

The yields on two-year British notes jumped 2.3 basis points at 12:24 pm CET to 0.871%, after soaring to as much as 0.885%. The 10-year note yielded 1.468% or 5.4 more for the day, compared to the session high of 1.477%, while the 30-year gauge was 4.8 points up at 1.866%.

Meanwhile, the yield curve steepened for United States government debt. The equivalent yields were 0.6 points down at 2.4233%, 2.22 higher at 2.895% and three basis points higher at 3.0901%, respectively. The German two-year note yielded a negative 0.557% or 1.1 points more in the session, the yield on securities maturing in ten years surged four points to 0.571%, and the measure grew 3.2 points to 1.221% for 30-year debt.

Breaking the News / IT

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