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Date: Friday 27 Jun 2008

LONDON (ShareCast) - Gilts are down despite first quarter GDP figures being revised lower due to weak service sector growth.

The economy rose by 0.3% from 0.4% in the previous quarter. The Office for National Statistics had estimated quarterly growth of 0.5% and annual growth of 2.5%.

Meanwhile, the current account deficit narrowed to its lowest level for nearly three years.

UK two-year gilt yield is up 3 basis points to 5.16% while the ten year gilt yield is 4 basis points higher at 5.05%.

US ten-year note is 1 basis points lower at 4.02%, while the German ten-year bund is flat.

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