UK gilt market waits on reports

In the UK, the gilt market was waiting for several reports Monday.

Consumer prices data and details concerning on the upcoming issue of a 50-year bond were due to be reported on Monday, and retail sales figures were expected to be released Thursday.

Additionally, the central bank will meet on Tuesday. Consequently, yields moved very little if at all.

Yields on the 2-year gilt were up 2.4 basis points to 4.338 percent, while the 10-year gilt held steady at a yield of 4.366 percent.

Elsewhere, eurozone bond yields didn’t move much, either. Yields on the 2-year Schatz held steady at 2.24 percent, and the 10-year Bund was down 0.7 basis points to yield 3.305 percent.

In the US, meanwhile, 2-year Treasury bonds lost 1 basis point, lowering yields to 3.59 percent. Ten-year yields were also down by 1 basis point to 4.12 percent.

This downward movement in yields was mostly due to the news that the Empire State manufacturing index has fallen into negative territory for the first time in two years.

The May manufacturing index sat at -11.1. Yields on 30-year US Treasury bonds yields were unchanged at 4.49 percent.

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