LONDON: British 10-year government bond yields fell to a three-week low in the first trading of 2019 on Wednesday, as prices were bolstered by a renewed fall in equities and falls in euro zone borrowing costs after lawmakers passed Italy's budget.

Ten-year gilt yields sank 6 basis points from Monday's close to hit 1.212 percent at 0821 GMT, their lowest since Dec. 12, and yields on other maturities dropped by a similar amount.

The yield premium over 10-year German debt was little changed from Dec. 31 at 102 basis points.