UK gilt yields hit 28-year high as fiscal fears grow

UK long-dated gilt yields have surged to their highest level since 1998, driven by concerns over potential looser fiscal policies under new leadership. The backdrop of rising oil prices due to the U.S.-Israeli conflict has intensified inflation worries, affecting global debt markets. As central banks reduce bond purchases, investors, referred to as 'bond vigilantes,' are seeking higher returns, which is influencing global financing conditions.