UK 10-year Gilt yields drop below 1% for first time to hit all-time lows

The persisting risk-off trades appear to have intensified as concerns over the Brexit aftermath accentuated, with Labor party’s MP resigning and banking index plunging to four-year lows. Hence, the demand for risky assets such as the equities, yields and oil prices took a hit over the last hour, while safe-haven viz., gold, bonds, yen etc. are strongly bid.

Yields on the 10-year government debt of the UK fell to all-time lows of 0.934%, diving below 1% for the first time ever, down almost 13% on the day. While the German 10-year benchmark bund yields extended the rout, now trading at -0.100%. Germany's 30-year bond yield extends falls to 0.39%, down 10 basis points on day.