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British 2-year bond yields fall after BoE rate cut, head towards negative territory

LONDON, March 11 (Reuters) - Britain's benchmark two-year government bond yield dropped on Wednesday after the Bank of England cut interest rates by half a percentage point.

The two-year gilt yield fell around 5 basis points in early trade to 0.101%, but held above a record low hit on Monday at -0.035%.

In contrast, the benchmark 10-year gilt yield was up 4 bps on the day at 0.28%. (Reporting by Dhara Ranasinghe Editing by Tommy Reggiori Wilkes)