UK 30-year gilt yields drop to one-week low as shares slide

LONDON- British 30-year government bond yields GB30YT=RR dropped to their lowest in a week on Monday, extending a rebound in prices triggered by the Bank of England's announcement last week of 200 billion pounds ($230 billion) in asset purchases.

Thirty-year gilt yields GB30YT=RR were down 9 basis points on the day at 0.845% at 1136 GMT, their lowest since March 16, amid sharp falls in share prices and with 14 billion pounds of BoE gilt purchases due this week.

Last Thursday British 30-year yields peaked at 1.536%, after a global search for U.S. dollar liquidity in the coronavirus crisis, and concern about higher borrowing, sparked the rapidest sell-off in gilts since the 1998 emerging market debt crisis. ($1 = 0.8690 pounds)

(Reporting by David Milliken; Editing by Alistair Smout) ((david.milliken@reuters.com; +44 20 7542 5109; Reuters Messaging: david.milliken.thomsonreuters.com@reuters.net))