UK 10-year gilt yields briefly rise above 4%

LONDON: British 10-year government bond yields briefly rose above 4% on Thursday for the first time in just over three weeks after a week of consecutive daily rises in yield.

The 10-year gilt peaked at 4.007% at 0700 GMT, up just over 1 basis point, according to LSEG data. At 0708 GMT the 10-year yield was down slightly at 3.987%.

Yields on two-year and 30-year gilts were also broadly flat, in line with US Treasuries.

BoE unveils new stability tool to soothe gilt market ructions

The Bank of England kept interest rates unchanged at 5% last week but financial markets see an 80% chance of a quarter-point rate cut on Nov. 7 after the BoE’s next meeting.