U.K. Bonds Rise Most in Six Weeks After Debt Sale, BOE Buyback
- DMO sells 2.5 billion pounds of gilts due in July 2047
- Debt office allots 30-year bonds at lowest yield on record
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U.K. 10-year bonds rose the most in six weeks as demand increased at an auction of longer-dated gilts and investors offered fewer securities to the Bank of England in its latest buyback operation.
The Debt Management Office sold 2.5 billion pounds ($3.2 billion) of gilts due in July 2047 at an average yield of 1.529 percent, the lowest on record. Investors bid for 1.92 times the amount of debt allotted, compared with 1.37 at the last auction of 30-year gilts on June 7.