Gilts Lead European Bonds Higher as Energy Prices Retreat
European bond prices rose as energy costs declined. The market shift followed reports regarding potential US diesel export policies and diplomatic discussions involving Qatar, the US, and Iran.
Gilts extended gains across the curve, with benchmark UK 10-year yields almost 7bps lower as oil and natural gas prices fell to new lows on the day. The moves followed reports that EU officials do not expect the US to ban diesel exports and that Qatar is holding meetings with the US and Iran over the conflict in the Middle East.
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