- Long-term borrowing costs jumped as the 30-year gilt yield reached 5.86 percent amid domestic political instability and global inflation fears
- Markets reacted sharply to reports of a potential leadership challenge to Prime Minister Keir Starmer by Greater Manchester Mayor Andy Burnham
- The selloff in British bonds outpaced similar movements in German bunds as investors weighed the prospect of a governing party leadership contest
- Traders are now pricing in nearly three Bank of England interest rate hikes by the end of 2026 due to persistent price pressures and geopolitical tensions
- The 10-year gilt yield also climbed significantly during the session reaching its highest point since the 2008 financial crisis
United Kingdom 30-year gilt yields surge to highest level since 1998
May 15, 2026, 2:00:10 PM UTC(9 hours ago)
Impact: High
Affected Assets
Sources
From:@DeItaone
UK 30-YEAR YIELD CLIMBS 20BPS TO 5.86%, HIGHEST SINCE 1998