Gilts Yields Rise Most in Two Weeks as Supply Rises, Stocks Gain
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U.K. government bonds declined, with 10-year yields rising the most in two weeks, as the Debt Management Office increased planned sales of gilts by 4.7 billion pounds ($7.18 billion) this year.
Two-year yields climbed to the highest level in six weeks as European and U.S. stocks advanced, undermining demand for safer assets. Gilts also fell as Britain’s budget deficit narrowed more than economists forecast in March. The slide in gilts increased the extra yield investors demand to hold the U.K. securities instead of similar-maturity German bunds. The pound strengthened against the euro.