Burnham's Bond Market Baptism: Gilt Yields Soar, Mortgages Surge, and Reform Bans the Press

UK 10-year gilt yields surged to just below 5.3% on Wednesday — their highest since mid-2008 — as a global government bond sell-off intensified, driven by the Iran war pushing Brent crude to around $95 a barrel and European gas prices to a three-year high. The 30-year yield hit its highest since 1998. Economists at Deutsche Bank estimate that Chancellor John Healey's fiscal headroom — the £26bn Rachel Reeves built in...