A global slide in government bond prices continued on Tuesday, pushing the key medium-term UK bond yield to 1 per cent and knocking European equities markets and Wall Street stock futures.
The UK 10-year gilt yield climbed 0.04 percentage points in early London dealings to 1 per cent, a level it has not hit since the market ructions of March 2020. Gilts have not regularly traded at that level since before the onset of the coronavirus crisis.
The yield on the 10-year US Treasury note, which acts as a benchmark for borrowing costs for companies and households worldwide, added 0.06 percentage points to a three-month high of 1.54 per cent.
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