British government bond yields fell to their lowest since mid-August on Tuesday and were on track for their biggest one-day fall in three weeks after oil prices dropped as investors shrugged off the latest U.S. sanctions campaign against Iran.Ten-year gilt yields fell by as much as 5 bps on the day to 5.01%, their lowest since August 14 and heading for their biggest one-day decline since August 4, after a $3 daily drop in the price of Brent crude.The move was broadly in line with a drop in U.S. Treasury yields .Thirty-year gilt yields also hit their lowest since August 14 earlier at 5.739%, down just over 5 bps from Monday's close.
UK gilt yields fall to lowest since mid-August as oil price slides
British government bond yields have reached their lowest point since mid-August, with ten-year gilt yields dropping markedly to levels not observed since August 14. This shift follows a substantial decrease in oil prices today. The patterns in gilt yields resonate with those seen in U.S. Treasury yields, as even thirty-year gilt yields have fallen to their lowest values since mid-August.
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