The trend of German debt and British debt diverged, Germany's long-term treasury bonds fell, and fiscal concerns linger. British bonds are rising, and the asset swap curve is getting steeper. The money market lowered the ECB's interest rate cut forecast by as much as 4 basis points. Further interest rate cuts are expected to be 21 basis points before the end of the year, the lowest level since June 23. Traders kept their expectations for the Bank of England's interest rate unchanged, and it is expected that interest rates will be cut by another 51 basis points this year.

The trend of German debt and British debt diverged, Germany's long-term treasury bonds fell, and fiscal concerns linger. British bonds are rising, and the asset swap curve is getting steeper. The money market lowered the ECB's interest rate cut forecast by as much as 4 basis points. Further interest rate cuts are expected to be 21 basis points before the end of the year, the lowest level since June 23. Traders kept their expectations for the Bank of England's interest rate unchanged, and it is expected that interest rates will be cut by another 51 basis points this year.