Bonds round-up
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Bonds were heavily lower across the board as markets were buoyed by news that Warren Buffett has offered to help major bond insurers.
Berkshire Chairman and CEO Buffett said the group has offered to insure around $800bn in tax exempt bonds. The offer was made to Ambac Financial Group Inc., MBIA Inc. and Financial Guaranty Insurance.
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Gilts were also weighed by the the Consumer Prices index, which rose to 2.2% in January from 2.1% in December. Analysts had been predicting a rise to around 2.4%.
Meanwhile, European bonds suffered after the German ZEW institute's expectations index rose to -39.5 in February from -41.6 last month.
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