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UK borrowing costs hit 28-year high in bond market rout and markets ramp up BofE rate hike bets as soaring oil and gas prices fuel inflation fears
UK borrowing costs have spiralled to a new 28-year high amid bond market carnage as surging oil prices stoked deepening inflation fears. Yields on 30-year UK bonds, known as gilts, hit 5.948 per cent, the highest since 1998, on Tuesday. And benchmark ten-year gilt yields jumped to 5.38 per cent, the highest since 2007. [...]