In the UK bond market on the 7th, the 30-year bond yield briefly rose to a 28-year high amid a global bond selloff. The UK 30-year bond yield rose 13 basis points to 6.036% at 1341 GMT, reaching its highest level since January 1998, and is expected to mark its largest one-day rise since August 14. The UK 20-year bond yield likewise approached a record high, while the UK 10-year bond yield rose 10 basis points to 5.48%. Finance Minister Healey is scheduled to present his first budget on October 28, and Bank of America economists said on the 6th that the budget will increase public borrowing by 15 billion pounds in both the current fiscal year and 2027/28, narrowing the room to meet long-term budget targets.
UK 30-year gilt yield briefly hit 6.036%, a 28-year high, on a global bond selloff and expected higher public borrowing.
UK 10-year gilt yield rose 10bp to 5.48% amid a global bond selloff, pushing the yield higher (bond price lower).
