Market Chatter: UK 30-Year Gilt Yield Tops 6% for First Time Since 1998

06:59 PM EDT, 10/01/2026 (MT Newswires) -- The UK's long-term borrowing costs hit 6% for the first time in almost three decades, making it the first Group of Seven economy to pay a rate that high since 2012, Bloomberg reported Thursday. The 30-year gilt yield rose as much as seven basis points to 6.02%, its highest since March 1998, before paring the increase, the report said. Bloomberg said the UK's reliance on imported energy and fragile public finances leave its bond market particularly vulnerable to fears that central banks will have to hike more aggressively. US Treasuries also traded weaker, at one point lifting the 10-year yield to its highest since 2002, while French debt was hit on worries over the government's budget deficit, according to the report. "Higher oil prices, stronger European inflation prints and the continued selloff in global duration" have weighed on sentiment toward gilts, Mizuho International strategist Evelyne Gomez-Liechti told Bloomberg. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)