UK gilt purchases rose 34% in 30 days as long-term yields hit 5.83%, the highest since 1998, drawing retail investors seeking tax-efficient fixed

UK gilt yields hit 5.29%, a 19-year high, as Brent crude surges and energy-driven inflation fears pummel European bond markets.

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.