UK 30-year government bond yield reaches highest level since 1998
The yield on 30-year UK government bonds rose to 5.89%, its highest level since early 1998, during a broader global bond sell-off.
The UK's long-term borrowing costs climbed as government bonds sold off internationally. The 30-year gilt yield reached 5.89%, while the 10-year yield rose to its highest level since the 2008 financial crisis.
The market moves came amid concerns about oil-driven inflation, interest rates and government deficits in major economies.