British 10-year government bond yields rose sharply on Wednesday, driven by higher oil prices and rising US Treasury yields, pushing borrowing costs close to their highest levels in nearly two decades, according to a report by Reuters.
The 10-year gilt yield climbed 6 basis points to 5.44% by 0712 GMT, its highest level since October 1, when it approached a 19-year peak of 5.51%, the report stated.
