UK: 30-Year Bond Yields Hit Highest Level Since 1998

The yields on 30-year British bonds have reached their highest level since 1998, hitting 5.69%. This development is putting pressure on the government of Kir Starmer, as investors worry about the fiscal deficit and potential tax increases.

The pound sterling fell by 1.1% in London, reaching $1.3395.

Finance Minister Rachel Reeves is being called upon to take measures to improve the UK's fiscal position, either through cuts or tax increases, ahead of the presentation of the autumn budget.