UK Gilt Yields Climb Following Steady Unemployment Figures

The yields on UK government bonds, known as gilts, experienced a notable increase after the Office for National Statistics (ONS) released its latest report, indicating the unemployment rate remained steady at 4.7%. This development has sparked discussions among investors regarding the potential implications for the Bank of England's upcoming decisions on interest rates.

Investors Await Inflation Data with Bated Breath

With inflation data on the horizon, the financial community is keenly observing whether the persistent unemployment rate might deter the Bank of England from implementing further rate cuts in November. The anticipation adds a layer of complexity to the current market dynamics.

Gilt Yields in Detail

At 10:57 am CET, the 10-year gilt saw its yield rise by 3.7 basis points to 4.605%, mirroring the upward trend, the 30-year gilt's yield increased by 3.9 basis points to 5.430%. Shortly after, at 10:58 am CET, the two-year gilt's yield also edged up by 2.4 basis points to 3.897%, underscoring the market's reactive stance to the latest economic indicators.