Bond Yields Surge as Iran War Inflation Fears Grip UK Markets

UK government borrowing costs spiked to their highest levels since the 2008 financial crisis on Monday, as a global bond market rout drove yields sharply higher on fears that the Iran war will keep inflation persistently elevated. The sell-off rippled across major economies, with the US 30-year Treasury yield hitting 5.29% — a level not seen since 2007 — and France's equivalent bond reaching 4.86%, its highest since September 2008. For UK gilt holders, it was a brutal...