UK 30-Year Gilt Yield Falls 10.5bps This Week to 5.844%

The long end leading the rally, with 30- and 50-year yields falling more than the 10-year, points to term-premium compression rather than a pure rate-cut repricing. The front end barely moved, so the 2s/10s curve flattening is doing the work here — a signal that duration demand, not growth optimism, is driving flows. Whether that long-end bid persists, or proves a temporary squeeze, is the open question, especially with the 50-year still yielding below the 30-year.