0936 GMT - Large U.K. banks are becoming more competitive on term deposits, Morgan Stanley says in a note on the back of the Bank of England's May statistics. MS--which assumes net interest margins likely peaked in 1Q--remains cautious on U.K. banks given the increasing rate outlook is driving renewed balance sheet concerns. Peel Hunt retains its buy rating and 480 pence price target on the stock. (joseph.hoppe@wsj.com)---UK Gilt Yields Rise After UK GDP Data Shows Growth in 1Q0826 GMT - U.K. gilt yields rise as the economy proves more resilient, as seen in the latest U.K. GDP data released on Friday. The U.K. 2-year gilt yield is up around 5 basis points to 5.276% while the U.K. 10-year gilt yield is up around 8bps to 4.440%, Tradeweb data show.

Source: Wall Street Journal June 30, 2023 11:13 UTC