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UK gilt yields hit highest since 2008 amid US-Iran tensions stoking inflation fears
Yields on 10-year UK government gilts jumped to just below 5.3% in early Wednesday trading, their highest level since mid-2008, as a global bond sell-off intensified amid escalating US-Iran tensions and rising inflation fears. The surge in UK borrowing costs adds to the challenges facing Chancellor John Healey as he prepares his debut budget. The sell-off is being seen across global government bond markets.
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