Yields on 30-year UK bonds, known as gilts, climbed above 5.92 per cent, the highest level since 1998, while 10-year gilt yields rose above 5.29 per cent, the highest since 2008.

The rate demanded by investors to buy UK debt has been driven up by persistent inflation, high borrowing levels and political instability.

UK government bond yields surged on Tuesday, with the 10-year gilt yield hitting its highest level since 2008 as rising oil prices revived inflation concerns. The 10-year yield…

Higher rates on the bonds will therefore mean that it costs UK more in order to borrow money

UK government bond yields climbed to fresh 18-year highs as a global sovereign debt selloff intensified amid rising oil prices and renewed inflation concerns. Higher borrowing…