UK long-term borrowing costs hit fresh 27-year high amid global bond sell-off – business live

Rolling coverage of the latest economic and financial news, as UK 30-year yields rise above Tuesday’s levels

UK hit by fresh sell-off in government bond markets as pound weakens

We should note that the sell-off in UK government bonds has focused on longer-dated debt.

Five-year gilts, for example, are little changed today. The yield on these shorter-dated UK bonds did rise yesterday, to nearly 4.2%, but that’s only the highest level since late May.