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Britain auctions 30-year bonds at 1998 high
Britain today, Tuesday, issued 30-year bonds worth £4.25 billion ($5.75 billion) at the highest yield since 1998, reaching 5.8168%. This is the highest since the launch of these bonds, driven by rising global borrowing costs and the impact of tensions between the United States and Iran on the markets. Despite a decline in demand from pension funds, the issuance received bids totaling £87.2 billion, reflecting investors’ appetite to purchase this issuance with price caps close to the minimum. This issuance is part of a debt issuance plan amounting to £246 billion for the entire fiscal year and highlights the increasing cost of government financing and the influence of global conditions on interest rates.
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