Markets

Borrowing costs surge in 'perfect storm' for bonds: Budget headache for Healey as investors fret over UK debt

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As the oil price spiked higher, yields on 30-year UK bonds, known as gilts, soared above 5.85%, just short of 28-year highs seen earlier this year.

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As the oil price spiked higher, yields on 30-year UK bonds, known as gilts, soared above 5.85%, just short of 28-year highs seen earlier this year.