UK 10-year borrowing costs rise to 19-year high after oil prices jump
Ten-year gilt yields climbed to 5.527% as a global bond selloff and a 5% jump in Brent crude added pressure on UK borrowing costs.
- On Wednesday, British 30-year bond yields reached a 28-year high as a global bond selloff pushed equivalent US borrowing costs to their highest levels since 2002.
- Inflation and elevated government borrowing concern global bond investors, exacerbated as oil prices rose above $100 a barrel amid the US-Israeli war against Iran.
- Yields on 30-year gilts jumped 13 basis points to peak at 6.036%, while 10-year gilt yields increased to 5.527%, their highest levels since July 2007.
- Finance Minister John Healey faces mounting pressure ahead of his first budget on October 28, with Bank of America economists forecasting £15 billion increases in public borrowing.
- Brent crude oil prices jumped 5% to $105 a barrel on Thursday, marking their highest level since September 29, reflecting persistent energy supply concerns amid global volatility.
18 Articles
18 Articles
UK 10-year borrowing costs rise to 19-year high after oil prices jump
British long-term borrowing costs hit fresh multi-decade highs on Thursday as part of a global bond selloff driven by a sharp rise in oil prices triggered by attacks on shipping in the Gulf and concerns that a hurricane will disrupt US oil production.
Government Borrowing Costs Surge Again
Long-dated 30-year gilt yields have risen to above 6% again today, up 12 basis points. Ten-year yields are up 11 to 5.49%… The pound has also fallen 0.6% against the dollar with FTSE 100 down too. The pound is up against the Euro though amid France’s market meltdown – to think some people want to…
The Economic Times
Times of IndiaGlobal Market: UK Gilt yields rise as oil, US Treasury yields weigh on bonds
British 10-year gilt yields jumped 6 basis points to 5.44%, nearing a 19-year high, as rising oil prices and US Treasury yields fueled inflation concerns. Investors also focused on Britains upcoming October 28 budget and fiscal outlook. Potentially higher borrowing needs and weak global bond markets added pressure to government debt.
The yield on the UK's 10-year government bond rose to 5.41% in Tuesday morning trading. This was the highest level seen since October 2007. The 30-year bond yield also climbed to 5.93%...
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