UK 30-year borrowing costs hit record low

LONDON: British 30-year government borrowing costs struck a new record low on Friday, reflecting a global bond rally spurred by uncertainty about the world economic outlook and the outcome of Britain's referendum on European Union membership.

The 30-year gilt yield fell to an all-time low of 2.039 percent, down 3 basis points on the day, according to Reuters data and pushing past a previous record low of 2.040 percent set on Jan. 30, 2015.

The 10-year gilt yield also fell to a new record low of 1.213 percent, also down more than 3 basis points on the day.

Earlier on Friday, Germany's 10-year Bund yield fell within touching distance of zero and likewise hit a new record low.