1224 GMT - Yields on U.K. government bonds, or gilts, are likely to remain high during the remainder of 2026, ending the year at 5.15%, before falling to 4.70% by the end of 2027, Morgan Stanley's Fabio Bassanin says in a note. The bank assumes energy prices will move lower by year-end, allowing markets to cut back expectations for interest-rate hikes, he says. Brent crude oil is last up 2.6% at $107.01 a barrel. Investors price in an 83% chance of the Bank of England increasing interest rates in November, and fully expect four quarter-point BOE rate increases by July 2027, LSEG data show. Ten-year gilt yields last trade at 5.393%, Tradeweb data show.
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