UK 30-year gilt yield hits new post-2008 high

LONDON: British 30-year government bond yields jumped to a fresh 27-year high on Monday, extending a gilt market selloff into a second week.

Thirty-year gilt yields opened around 6 basis points higher on the day to hit a high of 5.472%, the highest since 1998, before easing back to show a roughly 4 bps rise.

Investors riled by bond market selloff

British government borrowing costs leapt last week on worries about the government’s plans to sell more debt against a backdrop of a slowing economy and inflationary pressures in the United States once Donald Trump takes over the White House.