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The UK gilts traded flat Wednesday as investors remain keen to watch the country’s fourth-quarter gross domestic product (GDP), due to be release by the end of this week, which will remain crucial in deciding further movements in the money market.
The yield on the benchmark 10-year gilts, which moves inversely to its price, hovered around 1.19 percent, the super-long 30-year bond yields also remained flat at 1.77 percent while the yield on the short-term 2-year traded nearly 1 basis points down at 0.17 percent by 09:40 GMT.
The UK gilts have been closely following developments in oil markets because of their impact on inflation expectations. The International benchmark Brent futures moved higher by 0.68 percent to USD51.76 and West Texas Intermediate (WTI) rose 0.70 percent to USD48.71 by 10:00 GMT.
Meanwhile, the FTSE 100 fell 0.07 percent or 5.92 points to 7,338.25 by 09:40 GMT, while at 09:00GMT, the FxWirePro's Hourly Pound Strength Index remained neutral at -32.83 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
