Gilts in longest winning run on record ahead of BoE meeting

Await interest rate decision

Benchmark UK 10-year government bonds have risen for a tenth consecutive day, which is their longest stretch of gains since at least 1989, according to Bloomberg data.

Yields fell one basis point, or 0.01 percentage point, to 1.39% as of last night; a drop from 1.96% at the start of the year. This is the longest ten-day stretch since Bloomberg started compiling the data 27 years ago, which also shows gilts have returned twice as much as their European peers in 2016, according to Bloomberg World Bond Indexes. The run of gains comes as investors await today's announcement of the Bank of England's interest rate decision and the release of its latest Inflation Report. Government bonds have been supported by the prospect of an economic slowdown and a ...