UK 30-year gilt yields hit 5.89%, their highest since 1998, as Liz Truss warns the bond rout could force Labour into emergency spending cuts.

UK 30-year gilt yields hit 5.89%, the highest since 1998, as Middle East tensions, inflation fears, and political uncertainty fuel a global bond

The former prime minister said U.K. is among the worst examples of rising debt and warns the situation may have gone too far.