UK government bond yields have surged to their highest level in over two decades amid a sharp global sell-off, with traders citing rising oil prices as a key driver of inflation concerns. The spike in borrowing costs for long-term gilts reflects growing unease over economic pressures, as investors adjust expectations in response to geopolitical and market volatility. The move underscores mounting pressures on public finances as central banks and policymakers grapple with balancing inflation control and financial stability. Full details on the bond market’s reaction and its broader implications are available in the latest updates.
Yield on 30-year government bonds jumps to 5.88%, the highest since 1998, in bond rout triggered by global factorsBusiness live – latest updatesThe UK government’s long-term borrowing costs jumped to their highest level since early 1998 on Tuesday as a global bond sell-off gathered pace.The yield – in effect the interest rate – on 30-year UK government bonds, known as gilts, hit 5.89% as traders fretted about a fresh increase in oil prices driving up inflation. Continue reading...
