UK 30-year gilt yields rise after pension reform details

LONDON: British ultra-long government bond yields rose on Monday after the government gave more details on plans to allow people to access their pension savings early and spend them how they like.

Thirty-year gilt yields rose by 2 basis to 3.34 percent as prices fell relative to shorter-dated British debt and 30-year German government bonds.

The finance ministry said earlier on Monday that it expected strong demand for British long-dated debt to continue despite the changes, which are likely to reduce demand for annunites which invest in these types of bonds.