Gilt yields slide towards record lows

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Yields on UK debt were heading towards record lows in morning trading as worries over election results in Europe and news Spain may be forced to prop up its banking system spooked investors.

The yield on the benchmark 10-year gilt hit a low of 1.94% by 11:10am, off 0.063% and just marginally above the record low seen in January of 1.92%. The move down came amid a renewed sense of fear in Europe. Investors are concerned over the Socialist party's success in the French election over the weekend, which has punished French shares this morning. Elsewhere, the announcement from the Spanish government it intends to bail out Bankia, the country's third biggest bank, with an injection of approximately €10bn, also renewed fears over the health of one of the eurozone's largest econo...

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