Article 643T9 UK government bonds: why are yields rising and why does it matter?

UK government bonds: why are yields rising and why does it matter?

by
Richard Partington Economics correspondent
from Economics | The Guardian on (#643T9)

Britain's borrowing costs have soared as investors turn sour on prospects for economy

Kwasi Kwarteng's tax-cutting mini-budget triggered a collapse in the pound and surge in the UK's borrowing costs.

Sterling fell at one point on Monday to its lowest level against the dollar in history. According to Deutsche Bank, the UK's borrowing costs for 10-year government bonds have risen by the most in a five-day period since 1976 - the year Britain went cap in hand to the IMF for a bailout.

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