The UK issued benchmark 10-year government bonds on the 29th, with the average yield reaching its highest level since 1999. According to the UK Debt Management Office, the 10-year bond auction of 4.25 billion pounds, or 5.62 billion dollars, had an average yield of 5.383%, the highest since September 1999, when it stood at 5.694%. Bids from investors reached 3.34 times the planned issuance amount, reflecting relatively solid demand. The 10-year bond yield in the secondary market reached 5.441% on the 28th, the highest level since July 2007, and these rising interest rates are weighing on the country's finances.
UK 10-year gilt auction yields 5.383%, highest since 1999, as rising rates push the yield on the bond itself higher.
