The 10-year UK gilt yield hit a 13-month low, with investors focusing on the prospects for Bank of England interest rates.

In the European market at the close on Wednesday, the yield on the 10-year UK government bond fell by 6.3 basis points to 4.336%, approaching the lows of December 12, 2024 at 4.326%, December 3 of the same year at 4.190%, and September 17 of the same year at 3.729%. The yield on the 2-year UK bond fell by 3.6 basis points to 3.621%. The 30-year UK bond yield fell by 5.2 basis points to 5.087%; and the 50-year UK bond yield fell by 1.7 basis points to 4.632%. The 2/10 year UK bond yield spread fell by 2.617 basis points to +71.268 basis points.