UK’s long-term borrowing costs hit highest level since 1998

UK borrowing costs rose as the yield on 30-year Treasury gilts hit a nearly three-decade high of 5.212% after a £2.25 billion auction. Yields on 20-year gilts also increased to 5.153%, while 10-year gilts rose to 4.641% and 2 and 5-year gilts saw slight upticks, reflecting the broader trend of rising borrowing costs in the UK.

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