UK Borrowing Costs Surge as Oil Shock Rattles Global Markets
- Britain's 10-year gilt yields climbed above 5.2% on Thursday, reaching levels not seen since 2008 as the bond market sell-off continues across major economies.
- Former Prime Minister Liz Truss said surging global bond yields reflect mounting government debt and currency debasement, with Britain among the most exposed major economies to fiscal pressures.
- The 30-year gilt yield is approaching 6%, up from 5.12% in 2022, while the benchmark Treasury 10-year yield rose above 4.8%, erasing gains from Treasury Secretary Scott Bessent's recent buyback program.
- Globally, the sell-off extends beyond Britain, affecting France, Germany, and Japan; Gold fell to around $4,300 and Bitcoin pulled back to around $76,500 from recent highs.
- Sustaining public support requires growing the economy faster through supply-side measures while holding down spending, though The Bank of England faces criticism for printing money and debasing the currency.
16 Articles
16 Articles
UK Borrowing Costs Surge as Oil Shock Rattles Global Markets
The global rise in borrowing costs is a “particular concern,” the International Monetary Fund has said, as UK bond yields reach a level last seen in the financial crisis. The yield on the 10-year UK gilt climbed four basis points on Wednesday morning to near 5.27 per cent, which followed the previous day’s rally that saw yields spike as much as 15 basis points. Longer-term gilt yields were up five basis points to almost 5.89 per cent, nearing hi…
Global Market: UK gilt yields hit 18-year high as global bond selloff intensifies
UK government bond yields climbed to fresh 18-year highs as a global sovereign debt selloff intensified amid rising oil prices and renewed inflation concerns. Higher borrowing costs are adding pressure on Britain’s debt-servicing burden and complicating the fiscal outlook ahead of the upcoming budget.
IMF sounds alarm on borrowing costs surge as bond rout deepens
The global rise in borrowing costs is a “particular concern,” the International Monetary Fund has said, as UK bond yields reach a level last seen in the financial crisis. The yield on the 10-year UK gilt climbed four basis points on Wednesday morning to near 5.27 per cent, which followed the previous day’s rally that [...]
Bond market rout deepens with financial markets demanding Burnham imposes savage austerity cuts
Yesterday, UK borrowing costs hit the highest level since the 2008 international banking crash as the bond market continued to sell off government bonds in the UK and across the world. The dramatic increase in borrowing costs, the interest charged governments by the owners of the UK’s national debt of over £3 trillion, has been […]
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