2 Feb 2015
UK 10-year Gilt yield recovers from record lows
FXStreet (Mumbai) - The UK 10-year Gilt yield rose sharply from the record low seen on Friday after a gauge of manufacturing activity expanded at a faster pace in January.
Yield recovers from record lows
At the moment, the 10-year Gilt yield are up 6.6 basis points at 1.4%, compared to the record low of 1.341% seen on Friday. The yields recovered after Markit Economics said Purchasing Managers’ Index rose to 53 in January, higher than economists had forecast.
However, the recovery in the yield may not last long enough as Waning inflationary pressures will provide the Bank of England room to delay interest rate hike.
UK 10-year yield Technical Levels
The immediate resistance is seen at 1.423%, above which gains could be extended to 1.443%. Meanwhile, immediate support is seen at record low of 1.341%.
Yield recovers from record lows
At the moment, the 10-year Gilt yield are up 6.6 basis points at 1.4%, compared to the record low of 1.341% seen on Friday. The yields recovered after Markit Economics said Purchasing Managers’ Index rose to 53 in January, higher than economists had forecast.
However, the recovery in the yield may not last long enough as Waning inflationary pressures will provide the Bank of England room to delay interest rate hike.
UK 10-year yield Technical Levels
The immediate resistance is seen at 1.423%, above which gains could be extended to 1.443%. Meanwhile, immediate support is seen at record low of 1.341%.