U.K. government bonds fell, pushing yields up from record lows, as a decision by Moodyâ€™s Investors Service to cut the outlook on Germanyâ€™s credit rating signaled haven assets may be less safe than some investors perceive.
Benchmark 10-year gilts snapped a two-day gain after Moodyâ€™s lowered its outlooks for the Aaa ratings of Germany, the Netherlands and Luxembourg, citing concern the countries will have to support weaker euro-region members. The pound rose toward the strongest since 2008 against the euro and appreciated versus the dollar.
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