Gilt Yields Reach Week Low as U.K. Sells Debt Before BOE Minutes
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U.K. 10-year bond yields fell to the lowest level in more than a week as investors awaited publication tomorrow of minutes of the Bank of England’s November meeting, which will show how policy makers voted.
Benchmark gilts swung between gains and losses after the Debt Management Office sold 3.75 billion pounds ($6.04 billion) of 10-year securities in the first of two sales this week. The pound was little changed versus the dollar after the Organisation for Economic Co-operation and Development said Britain’s property market may be facing a bubble, even as it raised its U.K. growth forecasts. The central bank’s Monetary Policy Committee kept interest rates at a record low on Nov. 7.