By Investing.com — Yields on United Kingdom (TADAWUL:4280)’s government bonds, also known as gilts, have seen a decrease, following an anticipation of further interest-rate cuts by the Bank of England. This expectation is rooted in the weaker-than-expected retail sales data.
In December, retail sales saw a contraction of 0.3% on a month-to-month basis. This figure was weaker than the 0.0% consensus forecast by economists in a Wall Street Journal poll.
Following the release of this information, the 10-year gilt yield and the 30-year gilt yield both dropped to a 10-day low, according to Tradeweb data. The 10-year gilt yield was last down by 3 basis points at 4.639%, and the 30-year gilt yield decreased around 2 basis points to 5.204%.
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