UK 30-Year Yields Top 1998 High as Political Crisis Deepens

The UK bond market tumbled, driving long-term bond yields back to the highest in nearly three decades, as growing pressure on Prime Minister Keir Starmer to step down renewed concerns about the fragile state of Britain’s finances.

Gilts fell across the board, with yields on 30-year bonds rising as much as 12 basis points to 5.80%, the highest since 1998. The pound slid 0.7% to $1.3517.