UK 10-year gilt yields jumped 10 basis points to 5.378% on Thursday, their highest since July 2007, Reuters reported from London, citing David Milliken. Yields on 20-year and 30-year debt reached 5.895% and 5.948%, their highest since 1998. Five-year yields rose 15 basis points to 4.95%, and two-year yields reached 4.87%.
Markets price about a 97% chance of a Bank of England rate hike by November, while the next BoE meeting is still expected to hold, Reuters said. That path contrasts with the European Central Bank, which already raised rates the same day; the ECB decision is noted as a same-day parallel only.
The selloff tracked oil near $105 a barrel and Middle East shipping risk after Houthis seized Mocha, Reuters noted as catalyst context. Pressure also faces new finance minister John Healey ahead of his first annual budget statement next month. Budget policy details are not specified in the wire.
Sources: Reuters (David Milliken), London, Sep. 10, 2026.
