The yield on UK debt fell by at least 2 basis points on the day of Powell's speech.

At the end of the European market on Friday, the yield on the 10-year UK government bond fell by 3.7 basis points to 4.693%. At 22:00 Beijing time, during Fed Chairman Powell's speech at Jackson Hole, the yield instantly dropped from around 4.740% to near 4.7%, showing a cumulative decrease of 0.4 basis points for the week and overall forming an "M" shape trend. The yield on the 2-year UK bond dropped by 2.6 basis points to 3.944%. When Powell's speech was disclosed, it dropped from above 3.99% to below 3.96%, resulting in a 1.1 basis point increase for the week. The yield on the 30-year UK bond fell by 3.0 basis points to 5.548%, with a cumulative decrease of 1.6 basis points for the week. The yield on the 50-year UK bond dropped by 2.7 basis points to 4.924%, with a cumulative decrease of 2.4 basis points for the week. The 2/10-year UK bond yield spread fell by 1.244 basis points to +74.513 basis points, with a cumulative decrease of 1.572 basis points for the week.