UK bond yields fall as markets weigh Iran peace prospects
UK gilt yields fell as reports of a potential Iran peace deal lowered interest rate hike bets. Markets now price in fewer Bank of England increases this year.
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United Kingdom government bond yields fell as much as 18 basis points on Wednesday following reports of a potential peace deal. The move reversed a sharp sell-off on Tuesday that pushed 30-year yields to their highest levels since 1998. Investors are recalibrating interest rate expectations as the United States and Iran move toward ending their two-month conflict.
