U.K. Yields Soar, Pound Plummets as Inflation Concerns Mount
- Gilts extend declines after BOE raised rate-hike prospects
- Pound falls to eight-month low, set for worst day in a year
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The yield on U.K. 10-year notes rose past 1% for the first time since March 2020, while the pound plummeted, as U.K. assets confronted a mix of accelerating inflation expectations accompanied by curtailed growth from an expected tightening cycle.