Business
Global bond sell-off pushes UK 30-year yields past 6% for first time since 1998
October 1, 2026 at 01:30 PM
Coverage
2 reports · 1 in Arabic, 1 in English · over 3 hours
A worldwide bond sell-off, fueled by oil-driven inflation fears and deficit concerns, has driven US and UK long-term borrowing costs to multi-decade highs.
- The US 10-year Treasury yield rose six basis points to 5.34% on Thursday, its highest level since 2002.
- Britain's 30-year bond yield reached 6% for the first time since 1998, lifting UK long-term borrowing costs to a 28-year high.
- The Federal Reserve raised its rate range by a quarter point to 3.75%–4% on Sept. 16, saying inflation remains high.
- Jefferies economist Mohit Kumar said inflation, deficit and issuance concerns continue to weigh on the bond market.