Gilts end sharply up

Government bond prices ended sharply higher Friday as the cutoff price on the three-year 5.91%, 2028 gilt at the auction was better than expected, dealers said.

- 

Cutoff price on the 10-year benchmark 6.33%, 2035 bond at the auction was in line with expectations. Most gilts rebounded from brief losses seen after the auction results on aggressive buys likely from corporate houses and mutual funds, they said.