UK gilt futures at 6-wk low after Fed hikes discount rate

LONDON, Feb 19 (Reuters) - British gilt futures tumbled in
early trade on Friday, tracking a global move down in
fixed-income markets to hit a six-week low after the Federal
Reserve shocked markets by hiking its emergency lending rate.

By 0812 GMT, March gilt futures FLGH0 were 35 ticks down
at 113.85, having hit a session low of 113.77, the lowest since
early January.

The U.S. central bank raised its discount rate to 0.75
percent from 0.5 percent last night, but policymakers stressed
the move did not signal a broader move to tighten monetary
policy. [ID:nSGE61I036]

Short sterling interest rate futures were as much as 7 ticks
down on the strip. The yield on two-year gilts was 4 basis
points up at 1.19 percent.

--------------------- KEY MARKET DATA---------------------------
Long Gilt futures <0#FLG:> Gilt benchmark chain <0#GBBMK=>
Short Stg futures <0#FSS:> Cash market quotes <GB/GILT1>
Deposit rates DM= Sterling cross rates GBPX1=
UK debt speedguide <GB/DEBT> Econ. indicator polls<ECI/GB>
--------------------KEY MARKET REPORTS--------------------------
Gilts [GB/] Sterling [GBP/]
Euro Debt [GVD/EUR] Dollar [USD/]
U.S. Treasuries [US/] Debt reports [DBT]
-------------------- GILT STRIPS DATA --------------------------
Gilt strips data <GB/STRIPS1> All gilt strips <0#GBSTRIP=>
Gilt strips IO <0#GBSTRIPIO=> Gilt strips PO <0#GBSTRIPPO=>
A list of all the strippable British gilts <0#GBSTRIPTSY=>
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