UK 30-year bond auction draws strongest demand since March

LONDON: A British government bond auction for 1.75 billion pounds ($2.23 billion) of 30-year gilts drew the strongest demand in almost nine months on Thursday, helping gilt futures edge up to a two-day high.

The UK Debt Management Office said investors bid for 2.40 times the fairly low amount on offer of the 1.75 percent 2049 gilt, the highest demand for any auction since March 15. The gilt sold at an average yield of 1.909 percent.

March gilt futures briefly touched a two-day high of 123.31 after the day, 37 ticks up on the day.