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Gilt sell off deepens after worse than expected public finance data

Government borrowing costs have hit their highest level since the 2008 financial crisis as worse-than-expected public finance data compounded a gilt sell-off on worries over soaring inflation and rising interest rates. Yields on 10-year UK government bonds, also known as gilts, surged above 4.9% at one stage on Friday, up from 4.78% on Thursday and hitting an 18-year high. [...]