UK Gilt Yields Fall After Weak US GDP Data
UK Gilt Yields Fall After Weak US GDP Data
Yields on UK government bonds declined, along with their US equivalents, following a weaker-than-expected second estimate for first-quarter US GDP growth. The data shows the US economy expanded by 1.6% in the first quarter, weaker than the 2% consensus forecast by economists in a WSJ poll.
US growth is expected to weaken further as the effects of higher energy costs and elevated uncertainty begin to materialize, Quilter Cheviot's Jonathan Raymond says in a note. Ten-year gilt yields fell to last trade at 4.844%, from 4.868% prior to the data release, Tradeweb data shows.
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