UK 30-year gilt yields top 6% for the first time since 1998

British 30-year government bond yields have surged to their highest level since early 1998. This surge follows a significant increase in U.S. Treasury yields despite steadied oil prices. Short-dated gilt yields also rose sharply, reflecting concerns about the UK's fiscal vulnerabilities. Investors anticipate possible interest rate hikes by the Central Bank in November or December. The financial market is reacting to ongoing economic pressures like rising food and energy prices.