Britain's two-year gilt yield dropped by around 20 bps after the announcement - the biggest one-day fall since 2016.
![](http://img.zonebourse.com/stock/statistic_id1118604_market-value-of-government-bonds-in-the-united-kingdom-2000-2021.png)
Yesterday, real estate stocks were among the best performers. BP also did well, rising as much as 11%, after profits topped expectations.
The FTSE is still up today, led by banks and drugmakers. However, IAG dipped 0.7% after it warned of a larger-than-expected loss of $3.5 billion for 2021, hampered by travel restrictions caused by the pandemic.
Bond curves are mainly steeper as expectations of a rate hike faded -- the two-year Treasury yield has dropped more than 10 basis points compared with 0.5640% last week.
Today, investors will be assessing euro area retail sales and U.S. monthly payrolls data.
Things to read:
Boris Johnson cannot escape the costs of Brexit (financial Times)
U.K. Rate-Decision Surprise Ripples Across Global Bond Markets (WSJ)
Fourth Wave Spreads In Europe (Bloomberg)