UK 30-year gilt yields hit 28-year high in global selloff

The British 30-year bond yields have skyrocketed to their highest level since January 1998 amid a global bond market decline. This surge is primarily driven by ongoing inflation and substantial government borrowing, which are raising apprehensions among bond investors globally. As Finance Minister John Healey prepares for his budget announcement on October 28, 2023, analysts anticipate a £15 billion increase in public borrowing in the coming fiscal years.