UK 30-Year Gilt Yields Reach Highest Level Since 1998

UK long-term borrowing costs reached their highest level since 1998 as markets adjust ahead of the upcoming October budget. The yield on 30-year gilts climbed to levels not seen in over two decades. Investors are recalibrating positions in anticipation of the government's fiscal policy announcements scheduled for later this month. Market participants are monitoring the upcoming budget for details on government spending and debt issuance plans.