The cost of government borrowing has continued to soar after the Bank of England said it would end its emergency bond-buying programme on Friday as planned, countering claims it was considering an extension.
The price of 20-year UK bonds hit new lows on Wednesday afternoon, sending their interest rates – or yields – to levels last seen in 2002, after Threadneedle Street said it would put a hard stop to its £65bn package of support for the bond market.
