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2025-12-17 17:07:09
[UK Bonds Surge Amid Unexpected Inflation and Technical Breakout Signals] ⑴ UK inflation data unexpectedly fell short of expectations, driving a sharp gap up in UK gilt prices today, reaching a high of 91.78 before retreating somewhat. ⑵ Prices are currently capped below 91.91/93 (the highs of late November and early December last year), but today's rise has broken through previous trend resistance. ⑶ The 10-year UK gilt yield faces trend support at 4.44%, with key support below at the low of 4.415%, while a large gap exists above, with resistance at 4.50%. ⑷ The 10-year UK-Germany bond yield spread reversed course and fell again after being capped by 170 basis points of resistance yesterday, slightly refreshing its low. ⑸ This yield spread has fallen below the 161 basis point lows of August and September 2024. If it falls further, the next key support is around 153 basis points from the lows of March and July 2024.
