UK 10-Year Gilt Yields Drop Ahead of US Jobs Report

2026-02-11 10:16 By Joana Ferreira 1 min. read

UK 10-year gilt yields fell below 4.5%, their lowest level since January 22, as investors looked ahead to the closely watched US January jobs report.

While payrolls are expected to show a modest rebound, uncertainty persists after several US officials, including White House economic adviser Kevin Hassett, warned that hiring could slow in the months ahead.

Domestically, easing political tensions also supported sentiment.

Prime Minister Keir Starmer secured backing from senior cabinet members and across the Labour Party after his chief of staff, Morgan McSweeney, resigned amid the Lord Peter Mandelson controversy.

Meanwhile, markets stepped up expectations for further Bank of England rate cuts.

Although the central bank kept its benchmark rate unchanged at 3.75% in a split decision, policymakers adopted a more dovish tone, indicating that inflation is likely to move back toward the 2% target from April.



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