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The yield on the UK’s five-year gilt dropped by 4 basis points on Thursday to touch a fresh record low of -0.064%. Meanwhile, the yield on the 10-year gilt is at its lowest level since May 22 at 0.1425%, losing 5 basis points on a daily basis.

Risk aversion

The sour market mood is also reflected upon stock markets on Thursday. As of writing, the UK’s FTSE 100 Index was down 0.33% on the day at 6,104 points. Meanwhile, the GBP/USD pair was posting small daily gains at 1.2430.