UK borrowing costs hit 25-year high as global bond sell-off intensifies on inflation, political concerns

UK long-term borrowing costs hit highest level since 1998 amid global bond market sell-off driven by inflation fears and political instability

30-year UK government bond yields above 5% for first time in 25 years; Follows rising concerns central banks will keep interest rates high into 2024/2025

US political uncertainty and higher borrowing pushes Treasury yields to 16-year peak; Germany also faces instability and borrowing strains

Analysts warn equity valuations and risk appetite mean further stock market falls likely in coming weeks after calm European trading

Weaker economic surveys for UK and eurozone confuse global picture alongside robust US jobs vacancy data; Dollar strength weighing on sterling and commodities