UK 10-year gilt yields rise to highest since 2008 as markets price in 4 BoE hikes

British 10-year ​government bond yields ​rose on Monday to ​their highest since July 2008 at 5.065%, up 6 basis points ‌on the ⁠day, ⁠as markets priced in four ​Bank of England interest rate rises ​for this year.

The rise in 10-year British government borrowing costs ​was sharper than for ⁠German or ‌U.S. bonds, ​which ​were up 2-3 bps.

Two-year gilt ⁠yields rose 6 bps from ​Friday's close to 4.639%, pushing ​past a peak set in January 2025 to their highest since February 2024, while 30-year gilt yields rose ‌as much as 6 bps to 5.637%, ​their ​highest since September ⁠2025.


Interest rate futures at 0811 GMT were pricing in 98 bps of BoE rate rises by the time of the BoE's December 17 rate decision.