Bank of England rate cut day + UK-US trade agreement, two-year UK bond yields rose over 12 basis points to refresh daily high

On Thursday (May 8), in the late European market, the yield on the UK 10-year government bond rose by 8.67 basis points, reaching a daily high of 4.546%. One minute before the Bank of England announced its interest rate decision at 19:02 Beijing time, it fell to a daily low of 4.439%. The yield significantly surged upon the release of the decision statement, continuing to rise smoothly after a UK-US trade agreement surfaced and US President Trump spoke. The yield on the 2-year UK bond increased by 12.2 basis points, reaching a daily high of 3.925%, and also fell to a daily low of 3.779% one minute before the central bank's decision statement was released, then surged upon the release. The yield on the 30-year UK bond rose by 6.5 basis points, while the yield on the 50-year UK bond rose by 6.8 basis points. The yield spread between the 2-year and 10-year UK bonds fell by 1.538 basis points, reported at +47.141 basis points