UK short-dated gilts extend slump, yields highest since 2008
LONDON (Reuters) – British two- and five-year government bond yields both rose more than 50 basis points on Monday, as the rout in the gilt market since finance minister Kwasi Kwarteng’s fiscal statement showed no sign of abating after sterling hit a record low overnight.
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LONDON (Reuters) – British two- and five-year government bond yields both rose more than 50 basis points on Monday, as the rout in the gilt market since finance minister Kwasi Kwarteng’s fiscal statement showed no sign of abating after sterling hit a record low overnight.
Two-year yields rose as high as 4.549% at 1100 GMT, up more than 55 basis points on the day and on track for its biggest daily rise since at least 2009.
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Five-year yields were up more than 52 basis points at 4.573%, the biggest daily rise since at least 1991.
Both yields were the highest since September 2008.
(Reporting by David Milliken, editing by Andy Bruce)