0905 GMT - Yields on U.K. government bonds, or gilts, turn lower after hitting three-week highs on Wednesday following higher-than-expected U.K. inflation data. Details of the data suggest prices continue to trend lower and gradual quarterly interest-rate cuts from the Bank of England remain likely, ING strategist Benjamin Schroeder says in a note. If economic growth were to worsen this could quickly accelerate rate cuts, he says. The 10-year gilt yield falls 1 basis point to 4.597%, down from Wednesday's high of 4.627%, Tradeweb data show. The two-year yield falls 1bp to 4.261%, versus Wednesday's peak of 4.284%. (jessica.fleetham@wsj.com)
(END) Dow Jones Newswires
February 20, 2025 04:05 ET (09:05 GMT)
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