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Bond markets recover prices


by Brian Turner
May 5, 2005
Bond markets recover prices

The news that the U.S. Treasury might start issuing 30-year bonds again that sent prices lower and yields higher on European and UK government bond markets Wednesday seemed to have much less effect Thursday as prices rose and yields fell.

In London, where the general election being conducted on Thursday didn’t seem to be having much effect on the market, yields on the 10-year gilt were down by 2.1 basis points to 4.522 percent. The 2-year gilt fell 2.1 basis points as well, to 4.493 percent. Yields on the 30-year gilt fell 2 basis points to 4.455 percent.

Meanwhile, in Europe, the 10-year Bund stood steady, yielding 3.402 percent, while yields on the two-year Schatz fell 0.6 basis points to 2.227 percent and 30-year bond yields fell 0.6 basis points, to 3.980. Trade was light in Europe as several markets, including that in Germany, were closed for a holiday.



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