Yields and basis point movements of some of the most-watched 10-year bonds this afternoon:

UK: 1.91% (+6.4bp)
US: 1.81% (+2.1bp)
Germany: 1.58% (+2.7bp)
France: 2.265% (+2.0bp)
Spain: 5.616% (+4.8bp)
Italy: 4.853% (+2.2bp)

[There are 100 basis points to a percentage point]

With the UK economy rebounding to growth in the third quarter, UK gilt yields rose strongly on Thursday.

The UK economy expanded by 1.0% in the third quarter, compared with the 0.4% decline seen in the second quarter and well ahead of the 0.6% increase expected. That was the strongest reading since late 2007 and means that the economy exited from its double-dip recession.

Analysts at Barclays Research and Investec now expect quantitative easing (QE) to be off the table at the next Monetary Policy Committee (MPC) meeting.

Meanwhile, US data also came in ahead of expectations today causing Treasuries to fall: durable goods orders increased by 9.9% in September (consensus: +7.5%); while jobless claims fell 23,000 to 369,000 last week (consensus: 370,000).

Treasuries pared losses though in the afternoon on speculation that Fitch Ratings could be downgrading its rating on the US economy. These rumours were later refuted.

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