LONDON: The yields on 10-year British government bonds hit their highest since the "dash for cash" at the onset of the coronavirus crisis in March last year as investors continued to focus on the prospect for economic recovery.

Ten-year gilt yields edged up by almost 2 basis points to 0.843% at 1146 GMT.

Earlier on Monday, Bank of England Governor Andrew Bailey said he was more optimistic about the economy, "with a large dose of caution," and the rise in rates in financial markets was consistent with recovery prospects.