58FINANCE
⚡ Markets: Indicates rising risk premium for UK government debt, which can lead to higher borrowing costs across the economy, including for mortgages and corporate loans. Negative for UK gilts and potentially the British pound.UK GiltsGBPUSD
The UK paid the highest interest rate to borrow since 1998 at a recent government bond (gilt) sale. The rising debt costs highlight the fiscal pressure on the UK government amid persistent inflation and expectations of further interest rate hikes.
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