The UK’s long-term borrowing costs are the highest among the G7, and the gap with the US has been growing in recent weeks.
The 30-year gilt yield rose above 5.6 per cent this week to near its highest level since 1998, fuelling renewed warnings from some economists over the sustainability of the UK’s debts.
The 10-year benchmark gilt yield — the more closely followed measure — is also the highest in the G7, although it is some way from levels hit in January. Bond yields move inversely to prices.
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