The two-year UK bond yield rose more than 5 basis points on the Bank of England interest rate cut day.

In the European market at the end of trading on Thursday, the yield on the UK 10-year government bond rose by 2.1 basis points to 4.547%. When the interest rate cut was announced as scheduled at 19:00 Beijing time, it rose from 4.54% to 4.582%, hitting a daily high. Before this time point, there was a continuous low-level volatility, followed by a slight retracement of the gains and continued high-level volatility. The yield on the UK 2-year government bond rose by 5.6 basis points to 3.877%. When the Bank of England announced a 25 basis point interest rate cut, it rose from 3.84% to around 2.88%, and then continued to experience high-level volatility. The yield on the UK 30-year government bond fell by 0.9 basis points, while the yield on the 50-year government bond dropped by 1.1 basis points. The yield spread on the 2/10-year UK government bonds decreased by 3.537 basis points to +66.680 basis points, smoothly continuing to fluctuate downward throughout the day.