UK long-term borrowing costs rise as yields on 30-year government bonds (gilts) hit their highest level since early 1998. The 30-year gilt yield moves to around 5.9%, with reports citing roughly 5.88% to 5.89% during Tuesday’s trading.
Outlets link the move to a broader global sell-off in bond markets, which increases yields across countries and affects UK gilt pricing. The Guardian also highlights concerns among traders about a potential rise in oil prices that could lift inflation expectations, putting further pressure on long-term rates. Other outlets focus more directly on the scale of the jump and the matching spike in shorter-dated gilt yields, noting that 10-year gilt yields rise to about 5.25%.
