UK Markets Cap Dire Week With Yields Stuck Near Decade Highs
- UK 10-, 30-year gilts headed for worst week in a year
- Investors remain worried about UK’s fiscal, inflation outlook
A hectic week for UK bond and currency traders came to an end with yields stuck near the highest levels in years and the pound at its weakest since late 2023.
Gilts and sterling fell again on Friday after a surprisingly strong US job report. Though the latest moves were in line with peers, they came on top of a brutal selloff in UK assets, which left long-term borrowing costs at levels last seen in 1998.