British government bond yields rose to a one-week high on Friday, increasing slightly more than those for German debt, after higher-than-expected borrowing numbers and an election victory for Greater Manchester Mayor Andy Burnham.Two-year gilt yields rose to their highest since June 12 at 4.25% at 0715 GMT, up more than 6 basis points on the day and rising around 2 bps more than equivalent German bonds .Benchmark 10-year gilt yields rose more than 5 bps at 4.81%, a bigger increase than for euro zone bonds .Vedanta unit accepts bids worth $1.75 billion for three-tranche dollar debt, bankers sayVedanta Resources' subsidiary has successfully raised $1.75 billion through a dollar bond issuance to refinance over $2 billion in high-yielding debt. The company secured funds across six, eight, and eleven-year tenors at competitive rates, significantly lower than initial guidance. This move aims to reduce the cost of borrowing and includes plans to repurchase several existing, higher-interest bonds.Interest rate futures showed 31 bps of Bank of England rate rises priced in by the end of the year, slightly more than on Thursday after the central bank voted 7-2 to keep rates on hold at 3.75%. (Reporting by David Milliken; editing by Suban Abdulla)
Euro zone bond yields rise as Iran talks cancelled and ECB talks tough
UK government bond yields reached a one-week high on Friday, surpassing those of German securities. This uptick was driven by higher-than-expected borrowing figures and the electoral success of Greater Manchester's Mayor Andy Burnham. Notably, two-year gilt yields climbed to their peak since June 12, while the benchmark 10-year gilt yields also followed suit with a rise.
199 words~1 min read
