Long-term UK bond yields rose to their highest levels in more than a quarter century on Wednesday, amid growing market pressure over the upcoming fiscal and political outlook.
The yield on the 20-year UK bond hit its highest level since May 1998, while the 30-year bond yield touched a peak not seen since August of the same year, up about 4 basis points from the previous session.
The yield on the 10-year bond – which reflects the current UK government's borrowing cost – also rose by more than a basis point to 4.82% at 11:09 AM Mecca time, after hitting its highest level since mid-January at 4.859%.
This coincides with a broader wave of global bond yields. US Treasury yields jumped amid uncertainty over the outlook for trade policy, and the French 30-year yield hit its highest level since 2009, ahead of a no-confidence vote next week that could bring down the government
