Gilt yields fall to all-time low

Yields on UK government debt are trading at an all-time low amid fresh panic in Europe, which has sent equity markets reeling.

Key indices are sharply lower across Europe and the UK as yields on benchmark 10-year gilts reached their lowest ever levels of 1.888%, down 0.039% on the day. The move has left them trading below the previous record low close of 1.92% seen in January, while they have also set a new intra-day low point, the Debt Management Office (DMO) said. "They are at their lowest ever level," a spokesman at the DMO said. "Sentiment generally now is a risk-off flight to quality, and the 30-year auction this morning had 2.22 times cover, above the recent trend." The move lower started late las...