UK Gilts Yields Fall Sharply; 10-Year Drops 3.4bp, 2-Year Falls 4.5bp on June 22

On Monday (June 22), UK gilts yields fell sharply across the curve during European afternoon trading. The 10-year yield declined 3.4 basis points to 4.808%, while the 2-year yield fell 4.5 basis points to 4.208%. Longer-dated bonds also retreated, with 30-year yields down 3.3bp and 50-year yields down 3.1bp. The 2/10-year yield spread widened by 1.103 basis points to plus 59.888 basis points, reflecting curve steepening.
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