US EditionPound drops as 30-year gilt yields at highest level this century
The surge in 30-year UK government bond yields to 5.72% raises borrowing costs amid inflation and public debt concerns, pressuring the pound and challenging fiscal policy.
- London stocks declined and the pound fell, contributing to the decline in the market situation.
- The 30-year gilt yield reached 5.73%, marking its highest level this century.
- The Treasury's auction raised a record £14 billion, despite the rising costs of servicing debt.
- Confusion exists around the triggers for a global selloff, while the UK's debt remains the most expensive to service.
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Pressure on Chancellor ramps up as government bond sell-off deepens
Long-dated gilts hit fresh highs not seen since 1998 and the pound fell further amid worries over public finances in the UK and globally. UK long-term government borrowing costs have continued to surge higher, hitting fresh 27-year highs, while the pound remained under pressure despite Downing Street’s assurances over the Chancellor’s position. The yield on 30-year UK government bonds – also known as gilts – reached a new high not seen since 199…
Concern and flight from British government bonds have also influenced other European markets, with sovereign bond yields that have risen slightly
·Italy
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Evening StandardReposted by 
The Independent
The IndependentStocks slide and pound dives as bond yields spike
The FTSE 100 index closed down 79.65 points at 9,116.69.
·London, United Kingdom
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Coverage Details
Total News Sources19
Leaning Left4Leaning Right3Center2Last UpdatedBias Distribution44% Left
Bias Distribution
- 44% of the sources lean Left
44% Left
L 44%
C 22%
R 33%
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