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Markets

UK gilt yields close to biggest calendar-month rise since 2009

  • Ten-year gilt yields rose to 0.835%, 4 basis points up on the day, after Bank of England Chief Economist Andy Haldane warned that an inflationary "tiger" might be on the loose which could require more BoE action than markets expect.
  • Five-year gilt yields also rose to their highest since March 2020 at 0.413% and their spread over German five-year bonds widened above 93 basis points , also the widest since March 2020.
26 Feb, 2021

LONDON: British government bond prices extended their slide on Friday, bucking a more positive trend for US and German debt, and 10-year gilt yields are close to recording their biggest calendar-month jump since January 2009.

Ten-year gilt yields rose to 0.835%, 4 basis points up on the day, after Bank of England Chief Economist Andy Haldane warned that an inflationary "tiger" might be on the loose which could require more BoE action than markets expect.

If 10-year yields close near this level, they will have risen more than 50 basis points in February, the biggest monthly jump in yields since January 2009 when markets judged they had passed the low-point of the global financial crisis.

Five-year gilt yields also rose to their highest since March 2020 at 0.413% and their spread over German five-year bonds widened above 93 basis points , also the widest since March 2020.

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