- The 10-year gilt yield reached 5.268% shortly after 0700 GMT, up about 4 basis points on the day after rising 15 basis points on Tuesday.
- The move tracked higher borrowing costs across European government bonds as investors assessed the inflation impact of rising oil prices linked to the Iran war.
- Higher yields increase the fiscal challenge for finance minister John Healey ahead of his first budget.
Quotes
“British government bond yields hit fresh 18-year highs on Wednesday”