British bond yields hit 18-year high

British 10-year government bond yields have risen to their highest level since June 2008, recording 5.268%. This comes amid a global sell-off driven by escalating tensions with Iran and rising oil prices, posing increased challenges for the UK Chancellor of the Exchequer ahead of the presentation of his first budget on October 28. These increases have reduced the government's fiscal room to approximately 13 billion pounds, and short-term borrowing costs continue to climb as well.

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