(Bloomberg) -- U.K. government bonds rallied, sending the benchmark 10-year yield to a record low, after the Federal Reserve’s interest rate cut fueled bets the Bank of England will follow.
ADVERTISEMENT
The yield declined five basis points to 0.338%, extending the bonds’ advance to an 12th day, the longest streak on record. Money markets were already pricing a full rate cut by the BOE this month when the Fed startled investors with its emergency action.
ADVERTISEMENT
They now see a 60% chance of a 50-basis-point reduction.
Read More: Fed Raises Bets for Cuts in Japan and New Zealand, QE Down Under
©2020 Bloomberg L.P.
RECOMMENDED FOR YOU
POPULAR
1
Stock Market Live: Nifty, Sensex Erase Losses Led By Gains In RIL
2
Modi Counters Rahul's 'Suit Boot Ki Sarkaar' Jibes — Asks Ambani-Adani Se Kitna Maal Uthaya
3
India's Inflation Could Head To 4% During Monsoon, Says CEA Nageswaran
4
Hope To Halt: A Timeline Of AstraZeneca's Covid Vaccine Journey
5