Original title: UK Markets Slide as Debt Angst Drives 30-Year Yield to 1998 High
The yield on long-dated UK bonds rose to the highest since 1998 and the pound fell, pressuring Prime Minister Keir Starmer ’s government to regain the confidence of investors who remain concerned over the fiscal outlook. Yields on 30-year gilts jumped five basis points to 5.69% and the pound weakened more than 1%, lagging all other major currencies. The FTSE 100 Index retreated 0.5%.