Gilts Extend Biggest Slump in Three Years on Consumer Confidence
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U.K. government bonds fell, with 10-year yields posting the biggest monthly increase in more than three years, as a report showed consumer confidence improved this month, weakening the case for additional monetary stimulus.
Gilts also fell with Treasuries as U.S. reports indicating stronger growth added to evidence the economic recovery is accelerating. A U.K. sentiment index by GfK NOP Ltd. increased to minus 22 from minus 27 in April, the London-based group said today. The pound rose against the euro for the first time in three days after a report showed the jobless rate in the 17-nation currency bloc surged to a record in last month.