FT – Borrowing costs tick up as investors digest Reeves Budget debt demands

The FT says a sell-off in UK government bonds intensified on Thursday, as investor worries over additional debt in chancellor Rachel Reeves’ Budget pushed UK borrowing costs to their highest level of the year. The yield on the 10-year gilt was up 0.09 percentage points to 4.44 per cent, having earlier climbed above 4.50 per cent. The pound fell 0.8 per cent against the dollar to $1.286, its lowest in more than two months.