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Europe rallies as bond yields plough new lows

Updated : July 03, 2019 02:48 PM IST

EU leaders' nomination of IMF chief Christine Lagarde as Mario Draghi's replacement at the helm of the European Central Bank reinforced expectations of monetary policy easing in the bloc.
The ten-year UK gilts yield fell 4 basis points to 0.687. The yield is below the BoE's main policy rate for the first time in a decade.
European shares took little notice of some sizeable overnight falls for Asia's big bourses to push 0.6 percent higher. Gains were however led by an unusual pairing of traditionally defensive healthcare stocks and carmakers, which jumped 1.2 percent.
Europe rallies as bond yields plough new lows

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