UK markets are under strain as long-term gilt yields climb to their highest levels since the late 1990s, part of a broader global bond selloff that is raising government borrowing
UK markets are under strain as long-term gilt yields climb to their highest levels since the late 1990s, part of a broader global bond selloff that is raising government borrowing costs and hitting homeowners through more expensive mortgages. Bank shares fell sharply amid the yield surge, with jitters about the upcoming budget adding to the pressure. House price growth has slowed to its weakest pace in months, while an arrest under terrorism laws involving an Iranian-British dual national and Rolls-Royce's major nuclear and Derby investment milestones round out the news backdrop.
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