UK gilts extend gains after trade and industrial output data

LONDON: British government bonds extended gains after data on Friday showed Britain's trade deficit narrowed sharply in December and industrial output came in slightly weaker than expected.

The March long gilt future extended gains by around 15 ticks to 110.36 after the release.

It has since steadied around 110.27, up 28 ticks on the day.

Ten-year gilt yields were down around 2.7 basis points on the day, last at 2.722 percent.