UK 30-year gilt yields hit 27-year high amid fiscal concerns

British 30-year government bond yields have climbed to their highest level since early 1998, driven by rising U.S. Treasury yields and mounting concerns about the UK's fiscal health. Short-dated gilt yields also spiked sharply, reflecting broader market anxieties.

Financial markets are pricing in potential interest rate hikes from the UK central bank in the coming months. The yield surge underscores ongoing economic pressures, including elevated food and energy prices that continue to weigh on the economy.