NEW! Investment Companies Centre

Bonds retreat as banks rally on Citigroup results

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Friday 18 Jul 2008

LONDON (ShareCast) - Treasuries fell back across European and US markets as US banking giant Citigroup gave the whole sector a lift by reporting second quarter losses that were nowhere near as bad as feared.

A report in the Financial Times said that the UK Treasury was planning reforms that would facilitate increased government borrowing also contributed to UK gilts’ downward movement.

The yield on 10-year UK gilt rose by 14 basis points to 5.05%.

In Europe, speculation the European Central Bank is pondering raising rates to fend off inflation added to downward pressure on bonds.

The yield on Germany’s benchmark 10-year bund rose by 13 basis points to 4.58%.

In the US, the yield on a ten-year treasury climbed by nine basis points to 4.08%.

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).