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U.K. 10-Year Gilts Stay Higher After Retail Sales Decline

March 22 (Bloomberg) -- U.K. government bonds stayed higher after a report showed retail sales declined last month more than economists predicted.

The 10-year gilt yield decreased six basis points, or 0.06 percentage point, to 2.31 percent at 9:37 a.m. London time. Two-year yields slipped three basis points to 0.45 percent.

Sales including fuel fell 0.8 percent from January, the most in nine months, the Office for National Statistics said today in London. Economists forecast a 0.5 percent decline, according to the median of 23 estimates in a Bloomberg News survey.

To contact the reporter on this story: Lukanyo Mnyanda in Edinburgh at lmnyanda@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

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