UK 10Y Gilt Yield Breaches 2% Mark
0817 GMT – The yield on the benchmark 10-year U.K. government bond, or gilt, breached the 2%-mark this morning, Tradeweb data show, ahead of key monetary policy meetings this week. The leap higher comes as investors dispose of government bonds globally, prompting U.S. Treasury yields and German Bund yields to rise above 3% and 1% respectively. The Federal Reserve is expected to raise its benchmark interest-rate by 50 basis points, while the BOE is predicted to lift its base rate by 25 basis points this week. The ten-year gilt yield trades last at 2.004%, the highest level since Nov. 2015, while its U.S. counterpart is last quoted at 3.002%, according to Tradeweb. (lorena.ruibal@wsj.com)
Companies News:
BP to Take $25.5 Billion Hit From Russia Exit
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Card Factory Swung to FY 2022 Pretax Profit; FY 2023 Started Well
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Plus500 Ltd Early 2022 Performance Meets Key Metrics; Makes Strategic Progress
Plus500 Ltd. said Tuesday that it has performed well against its key metrics in 2022 to date, and has made substantial progress against its strategic priorities.
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CareTech 1H Broadly in Line Despite Covid-19, Inflation and Labor Issues
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Sovereign Metals to Raise A$15 Mln to Fund Kasiya Project
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Avation Says Virgin Australia’s Trustees Can Make Good on $71.5M in Claims
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GRC International FY 2022 Billings Rose, Swung to Ebitda Profit
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CMA Considers Accepting Undertakings Over LSEG’s Quantile Acquisition
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McColl’s Retail to Seek Trading Halt June 1 Due to FY 2021 Earnings Delay
McColl’s Retail Group PLC said Tuesday that it won’t be able to publish its fiscal 2021 earnings by the end of May deadline and that it therefore expects to request a suspension of trading in its shares.
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Ocean Outdoor Evaluates Sale Proposal, 2021 Pretax Loss Narrowed
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Hargreaves Services Sees FY 2022 Results Higher on German JV Contribution
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OPG Power Ventures FY 2022 Total Power Generation Fell After Cost Rises; Appoints CFO
OPG Power Ventures PLC said Tuesday that its total power generation for fiscal 2022 fell amid a rise in coal prices and freight costs and that it has appointed a new chief financial officer.
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Devolver 2021 Audited Net Income Lower than Prior Reports
Devolver Digital Inc. said Tuesday that its final audited net income for 2021 is $1.8 million lower than its previously published preliminary results, due to accounting adjustments.
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Intelligent Ultrasound Flags Possible Doubt About Ability to Continue as Going Concern
Intelligent Ultrasound Group PLC said Tuesday that it may need to raise further funds within the next 12 months to support its growth plans, and that this represents a material uncertainty that may cast significant doubt upon its ability to continue as a going concern.
Market Talk:
UK Gilt Yields Climb Ahead of Thursday’s BOE Rate Decision
0834 GMT – U.K. borrowing costs leap higher ahead of the Bank of England’s rate decision on Thursday. The yield on the benchmark two-year U.K. government bond, or gilt, which is more sensitive to changes in interest-rate expectations, jumps over eight basis points to 1.682% from Friday’s close.The BOE is widely expected to lift its base rate by 25 basis points to 1% on Thursday. “The BoE have reason not to risk upsetting the consumer too much with drastic hikes, leaving 25bp as a compromise,” says Mizuho in a research note. The BOE’s rate decision looks “fairly clear cut regarding the amount of hikes to expect and the accompanying dialogue,” it says. (lorena.ruibal@wsj.com)
Contact: London NewsPlus; Dow Jones Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
May 03, 2022 05:14 ET (09:14 GMT)
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