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Gilt yields soften on Greek downgrade
The yield on government bonds fell today on rating downgrade for Greek sovereign bonds and indications of a drop in headline inflation for April. In the most-traded 7.02 per cent government paper maturing 2016 and 8.20 per cent paper maturing 2022, yields softened to close at 7.57 per cent (yesterday’s close at 7.58 per cent) and 8.03 per cent (8.09 per cent), respectively. The 2016 paper had