UK gilts tad lower amid lack of economically significant data

The UK gilts traded tad lower Friday amid lack of economically significant data through the day. However, the fall was slightly offset by previous gains, following growing possibilities of a 'no-deal' Brexit, although recently some optimism had spiked up as the negotiations moved to the second phase.

The yield on the benchmark 10-year gilts, rose close to 1 basis point to 1.32 percent, the super-long 30-year bond yields hovered around 1.83 percent and the yield on the short-term 2-year traded 1/2 basis point higher at 0.56 percent by 09:45GMT.

According to a recent report from Bloomberg, Leaving the European Union without a deal in 2019 could cost Britain almost half a million jobs, a report found as London’s key finance industry vacancies also plummeted the most in three years.

The report was commissioned by Cambridge Econometrics by London Mayor Sadiq Khan and it noted that In the worst-case scenario in the Cambridge study, Prime Minister Theresa May would fail to secure a two-year transition to ease the passage for businesses, a situation that in London alone may create 87,000 fewer jobs and usher in 10 years of lower growth.

Meanwhile, the FTSE 100 traded 0.30 percent higher at 7,720.00 by 09:45 GMT, while at 09:00GMT, the FxWirePro's Hourly Pound Strength Index remained neutral at 32.45 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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