Yields on UK government bonds maturing in 30 years soared to a 27-year high on Tuesday, driven by mounting global debt concerns and escalating tensions regarding U.S. monetary policy. As per data from the London Stock Exchange, yields reached a significant 5.680%, marking a substantial increase of roughly 4 basis points within the day, surpassing levels last witnessed in May 1998. Germany’s own 30-year bond yields also climbed to a record 14-year high, following the upward trend observed in U.S. Treasury yields. This sharp increase in borrowing costs highlights anxieties about the UK’s inflation rate, its substantial debt levels, and sluggish economic growth rates. The upcoming autumn budget by Chancellor Reeves is expected to include tax hikes aimed at meeting fiscal targets, potentially exacerbating these challenges for the nation’s economic recovery.