Long-term UK borrowing costs have reached their highest level since 1998 as the Iran war continues and concerns rise over political uncertainty in the lead-up to local and national elections.
Government bond markets for major economies have all fallen since the US-Israeli conflict with Iran began, meaning the effective cost of borrowing for governments has shot up.
There have been extra jitters in UK government debt markets ahead of Thursday's elections.
On Tuesday afternoon the yield on 30-year government bonds reached a 28-year high, while the yield on 10-year bonds reached an 18-year high.
The Iran war has led to the effective closure of the Strait of Hormuz. That closure has impacted the world's supplies of oil and liquid natural gas, and caused energy prices to skyrocket.
