Yield On U.K. 10-year Gilt Hits All-time Low

By Carla MozeeMarketsMarketWatch Pulse

The yield on the Britain's benchmark government bond hit a record low Thursday, underscoring a recent rally among European bonds. The yield on the 10-year gilt hit an all-time low of 1.222%, according to Tradeweb. Yields move in opposite direction to prices. Investors appeared to be seeking the relative safety of bonds before the June 23 Brexit referendum in the U.K.​, which will ask voters whether​ the country should leave the European Union. After the European Central Bank on Wednesday kicked off its program of corporate-bond purchases, Germany's 10-year bund yield touched an all-time low of 0.03%. On Thursday, the bund yield was down 1 basis point at 0.043%.

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