UK 30-year borrowing costs hit highest since 1998 as bond market sell-off grips markets – as it happened

Rolling coverage of the latest economic and financial news, as fears of high interest rates hit the bond market

• What are bond yields and why are they at a 25-year high in UK?

This week's bond market gyrations are all about investors adjusting to interest rates remaining higher for longer than hoped, reports Mohamed El-Erian, chief economic adviser at Allianz and president of Queens' College, Cambridge.

There could be drama in the technology and communication world this week too.

British media regulator Ofcom will this week push for an antitrust investigation into Amazon and Microsoft's dominance of the UK's cloud computing market, according to two sources familiar with the matter.

Between them, Amazon and Microsoft enjoy a combined market share of 60-70% of Britain's cloud computing industry. Meanwhile, their closest competitor, Alphabet's Google, has closer to 10%.