U.K 10 year yield slide record low after Moody's downgrade country rating to negative

U.K. 10-year Gilt yields have dropped below 1% for the first time to hit a new record low. The fall came after Moody's downgraded its U.K. sovereign rating to negative from stable, citing diminished policy predictability and economic effectiveness. Meanwhile, 10-year U.S. Treasury yields have extended their fall to 1.47%, tumbling 10 basis points this session.