LONDON, May 15 (Reuters) – British 20- and 30-year gilt yields rose to their highest since 1998 on Friday as British bonds extended a selloff driven by domestic political worries and global inflation concerns that also pushed 10-year yields to their highest since 2008.
Britain no longer issues much debt at 20- and 30-year maturities but the bonds’ yields are sometimes seen as a barometer of investor concerns about long-term borrowing and inflation concerns.
Thirty-year gilt yields rose as high as 5.822% at 1042 GMT, up 17 basis points on the day, according to LSEG data, surpassing a previous high of 5.813% set on Tuesday, while 20-year yields reached 5.766%, up a similar amount.
Ten-year yields – which are more reflective of the rate Britain is charged for new borrowing – peaked at 5.153% and were up 14 bps at 5.133% at 1054 GMT.
(Reporting by David MillikenEditing by William Schomberg)
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