Gilt Yields Jump to 28-Year High Ahead of UK Budget
TL;DR Summary
UK long-term borrowing costs rose to a 28-year high, with 30-year gilt yields at 5.89% and the 10-year at 5.22% ahead of the October Budget, tightening fiscal space for Burnham and Healey as markets weigh inflation, debt levels and proposed spending to ease the cost of living.
- UK long-term borrowing costs highest since 1998 ahead of October Budget BBC
- Global bond rout deepens as oil prices jump; wheat prices highest since early 2023 – as it happened The Guardian
- Britain suffers biggest jump in borrowing costs amid global rout – latest updates The Telegraph
- Pound slips despite jump in gilt yields as investors favour dollar Reuters
- Rise in UK borrowing costs piles pressure on Andy Burnham and John Healey Financial Times
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