What rising UK bond yields really mean for your savings, mortgage and pension

Thirty-year UK government bonds yields have climbed above 6 per cent recently, reaching their highest level since 1998 - nearly three full decades.

This might sound like something that matters only to City investors, but movements in the bond market - or gilts, as those issued by the UK government are known - can feed through into everyday finances: from the interest you earn on savings, to the rate you pay on your mortgage.