UK government bonds ignore Moody's downgrade. After a slight rise in rates at the start of the session (up to a maximum of 2,17%), yields on 10-year Gilts almost eliminated the increase, reaching 2,11%, against the 2,10% recorded closing on Friday. The London Stock Exchange also performed well, where the FTSE 100 index gained almost half a point in mid-morning, in line with the slight increases in all the major European markets.
Last Friday, Moody's cut its UK government bond rating from Aaa to Aa1, with a stable outlook. The downgrade on British bonds - the first after 35 years - is linked "to the continued weakness of the medium-term growth prospects of Great Britain", explained the American agency.
