UK 10-Year Yields Hit Highest Since 2008 as Market Rout Deepens
- Pound slides as rates rise, inviting Truss crisis comparisons
- ‘This isn’t a healthy move,’ says RBC strategist Muhic
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UK markets tumbled, pushing bond yields to the highest in more than a decade, as jitters over persistent inflationary pressures sparked unnerving comparisons with the 2022 gilt crisis.
Benchmark 10-year yields jumped as much as 14 basis points to 4.82%, the highest since August 2008. The pound fell against all major currencies, slumping more than 1% versus the dollar, while UK stocks fell.