UK is centre of inflation angst as yields spike to 2008 high
Gulf Times
UK is centre of inflation angst as yields spike to 2008 high
The UK’s shaky bond market is at the heart of investor worries that the war in Iran is about to unleash faster inflation and strain government finances. As yields soared globally on concern central banks will be forced to tighten monetary policy, the UK endured some of the most extreme market moves. The 10-year yield, a benchmark for Britain’s borrowing costs, shot to 5% for the first time since the 2008 financial crisis. It’s a grim milestone for a country already contending with fragile finances while Prime Minister Keir Starmer faces threats of leadership challenges from within the governing Labour Party. Scars from the ill-fated mini-budget of 2022, along with signals that the Bank of England (BoE) is ready to raise interest rates, have put the UK in the “penalty box,” said James Athey of Marlborough Investment Management.
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