UK government bond yields reached a one-week high on Friday, surpassing those of German securities. This uptick was driven by higher-than-expected borrowing figures and the electoral success of Greater Manchester's Mayor Andy Burnham. Notably, two-year gilt yields climbed to their peak since June 12, while the benchmark 10-year gilt yields also followed suit with a rise.

The 10-year yield on UK gilts – Government bonds – rose by 0.05 percentage points to 4.81% shortly after the market opened.

UK government bond yields reached a one-week high on Friday, surpassing those of German securities. This uptick was driven by higher-than-expected borrowing figures and the…