By Steve Goldstein
LONDON (MarketWatch) -- U.K. government bonds dropped and the British pound tumbled Friday as election results seemed to show a hung parliament with the Tories as the largest party. The yield on two-year U.K. government bonds rose 6 basis points to 1.13% and the yield on the 10-year rose 5 basis to 3.80%. Yields move in the opposite direction to prices. The British pound fell as low as $1.4594 but recently traded down to $1.4707 from $1.4874.
