Britain sold £4.25 billion ($5.75 billion) of 30-year government bonds on Tuesday at the highest yield recorded in comparable data since 1998, underscoring the pressure facing the government as global borrowing costs rise and the new finance minister prepares for his first budget.
According to Reuters, the 5.375% 2056 gilt was sold through a syndication at a yield of 5.8168%. That surpassed the previous record of 5.79%, set at a UK Debt Management Office auction in May 1998.
