U.K. Bond Yields Tumble to Record Low on Safety Demand: Chart

U.K. 10-year government bond yields dropped to the lowest level on record amid a global bid for haven assets as stock prices fell with commodities. Gains in gilts came after U.S. Federal Reserve Chair Janet Yellen added to caution in the markets saying Wednesday that weakening stock prices posed a risk to the economy. U.K. policy makers voted unanimously last week to hold interest rates at a record low as tumbling oil prices diminish the outlook for price growth.