Short-Term Gilt Yields Hit 3.5-Week Low as BOE Rate Rise Expectations Decline
Dow Jones16:28
0828 GMT - Yields on U.K. 2-year government bonds, or gilts, drop to their lowest since July 10, as investors cut expectations of the Bank of England rate rises. The U.S. said talks with Iran to end the Middle East conflict are progressing well, calming fears about possible escalation in the war. Oil prices dropped on Tuesday following reports about the U.S.-Iran talks, easing inflation concerns. Two-year gilt yields are down 1.4 basis points to last trade at 4.236%, having dropped to 4.225% earlier in the session, Tradeweb data show. Markets price in an 88% chance of a 25 basis-point BOE rate rise by December, down from a 99% probability priced in on Monday, LSEG data show.
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