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Wednesday 20th of August 2008
July 26, 2005

Yields down on US bonds, up elsewhere


by Brian Turner
UK gilts mixed on security concerns

Yields on eurozone, UK, and Japanese government bonds rose on Tuesday, but prices were up and yields down on US Treasury bonds on falling consumer confidence data.

The 2-year Treasury lost 0.3 basis points to yield 3.943 percent, the 10-year bond lost 1.2 basis points to yield 4.238 percent, and the 10-year bond was yielding 4.458 percent, down 0.7 basis points.

In the eurozone, business sentiment was up in Germany and Italy, helping to send yields on the 2-year Schatz up by 2.4 basis points to 2.204 percent, while the 10-year Bund gained 3.4 basis points to yield 3.241 percent.

In the UK, the Confederation of British Industry said that manufacturer confidence was down in July but was expected to begin going up again next month. The 2-year gilt gained 3.1 basis points to yield 4.116 percent and the 10-year gilt was up 2.7 basis points to a yield of 4.308 percent.

The Debt Management Office auctioned £400 million in 20-year index-linked bonds to a fair response. Meanwhile, in Japan the 10-year government bond gained 1 basis point to a yield of 1.270 percent ahead of a meeting of the monetary policy committee of the Bank of Japan.

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