Energy supply shock pushes up UK government bond yields

```htmlGolden Ten Data reported on April 27 that UK government bond yields have risen due to high oil prices and prolonged disruptions in energy supply, increasing inflation risks. Amid the ongoing conflict between the US and Iran, the Strait of Hormuz, a key shipping channel, remains closed, leading to a global energy supply shock. According to LSEG data, investors have fully priced in two interest rate hikes by the Bank of England in 2026 to address inflation. It is expected that the Bank of England will keep rates unchanged when it announces its decision on Thursday. Tradeweb data shows that the 10-year UK government bond yield rose by 3.6 basis points, now quoted at 4.964%.```