UK bond prices collapse after sterling hits record low

Two-year gilt yields rose as much as 54 basis points on the day to 4.533%, their highest since September 2008. Five-year yields jumped more than 44 basis points to. 4.503%, their. highest since October 2008, while benchmark 10-year. yields hit their highest. since April 2010 at 4.215%, while rate futures now price in a three-quarters-of-a-point hike to 3% on or before BoE’s next scheduled rate announcement on Nov. 2..

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