LONDON- British government bonds rallied strongly again on Tuesday as investors sought safe investments following increased Western sanctions on Russia after its invasion of Ukraine.

Long-dated government bonds joined the rally which on Monday had been led by shorter maturities.

Thirty-year gilt yields fell more than 15 basis points on the day to 1.439%, its lowest since Feb. 4 and on course for the biggest one-day fall since the British government scaled back debt issuance plans in its Oct. 27 budget.

Five-year gilt yields dropped to their lowest since Jan. 5 at 0.903%, also down around 15 basis points on the day.

Financial markets still fully price in the Bank of England raising its main interest rate to 0.75% from 0.5% on March 17 after its next Monetary Policy Committee meeting. (Reporting by David Milliken Editing by William Schomberg)