The UK 10-year gilt yield rose to 5.224%, the highest since 2008, while the 30-year gilt yield climbed to 5.871%, the highest since 1998.
US-Iran fighting has raised inflation concerns. Efforts to restart shipping through the Strait of Hormuz have stalled, fueling fears of prolonged oil supply disruptions and higher energy costs. Fed Chair Kevin Warsh warned of inflationary risks on Friday.
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