August 1, 2014 / 4:51 PM / 3 years ago

UK 30-year gilt prices rise to highest in more than a year

LONDON (Reuters) - British 30-year government bond prices hit their highest level in more than a year on Tuesday, rallying strongly with Treasuries after disappointing U.S. jobs data.

The 30-year gilt yield GB30YT=RR fell as much as 5 basis points on the day to hit a low of 3.239 percent, its lowest since May 31 last year, as strong U.S. data pushed gilt prices in the other direction.

Major government bond prices rallied on Friday after U.S. job growth slowed and the unemployment rate rose, pointing to slack in the labour market that could give the Federal Reserve room to keep interest rates low for a while.

Reporting by Andy Bruce, editing by David Milliken

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