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The Guardian - UK
The Guardian - UK
Business
Phillip Inman and Graeme Wearden

Bond market sell-off sends UK long-term borrowing cost to 25-year high

A sign in Tokyo shows the stock exchange down 600 points in morning trading.
A sign in Tokyo shows the stock exchange down 600 points in morning trading. Photograph: Richard A Brooks/AFP/Getty Images

Britain’s long-term cost of borrowing has hit its highest level since 1998, as political instability in the US and fears of sustained high levels of inflation triggered a sell-off in global bond markets.

The yield, or interest rate, on 30-year UK government bonds hit 5.115% early on Wednesday, according to the financial data provider Refinitiv.

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