Michael Keaton may be reprising his role as Batman in the summer blockbuster Flash, but an altogether different vigilante is running roughshod over UK bond markets.
Following inflation far higher than the Bank of England predicted (again), yields on two-year gilts have risen dramatically to 4.84%. It might have escaped many people’s notice given the lack of media coverage compared with last September, but interest on government borrowing is now above the level seen at the peak of the Kwasi Kwarteng fiscal fiasco.
