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21 May 2015
UK gilt yields recover losses
FXStreet (Mumbai) - The yields on the short duration and long duration gilts in the UK recovered part of their losses after the strong retail sales data.
The 10-year yield in the UK now trades 1.6 basis points lower at 1.964%, compared to the pre-data level of 1.95%. The gilts have managed to hold to their gains, thereby keeping yields lower for the day despite upbeat data. Meanwhile, 30-year yield now trades almost 2 basis points lower at 2.64%, while the 2-year yield trades moderately lower at 0.534%.
The data released by the UK Office for National Statistics (ONS), the retail sales in April rose 4.7% compared with April 2014, beating the estimate of a 3.8% rise, and up from March’s 4.2%. Month-on-month retail sales rebounded 1.2%, bettering the estimate of 0.4%, and up from March’s -0.5% reading.
The 10-year yield in the UK now trades 1.6 basis points lower at 1.964%, compared to the pre-data level of 1.95%. The gilts have managed to hold to their gains, thereby keeping yields lower for the day despite upbeat data. Meanwhile, 30-year yield now trades almost 2 basis points lower at 2.64%, while the 2-year yield trades moderately lower at 0.534%.
The data released by the UK Office for National Statistics (ONS), the retail sales in April rose 4.7% compared with April 2014, beating the estimate of a 3.8% rise, and up from March’s 4.2%. Month-on-month retail sales rebounded 1.2%, bettering the estimate of 0.4%, and up from March’s -0.5% reading.