UK Government Bond Yields Plunge to Lowest Level Since October 30

Forex - UK government bond yields have fallen to their lowest level since Finance Minister Rachel Reeves announced her first budget on October 30, following a downward trend in German bonds. The yields on 5 and 10-year government bonds dropped by more than 5 basis points, falling to 4.168% and 4.299%, respectively. Financial markets anticipate that there is a 19% chance the Bank of England will reduce rates by a quarter point to 4.5% at its next meeting on December 19, and are pricing in three quarter-point rate cuts by the end of next year.