Market Mayhem in the UK: What's Behind the Borrowing Costs Bump? The UK's borrowing costs have reached an 18 year high, with the pound taking a hit as the battle for Labour leadership continues to roil markets.
The 10 year bond yield surged above 5. 17%, a level last seen in 2008, while long term borrowing costs reached a 28 year high.
The UK's increases stood out from those of other European governments on Friday, with investors concerned about the global implications of rising energy costs and potential inflation.