Anonymousabout 2 hours ago
UK 30-year gilt yields surged to 5.80% on 5 May 2026, a level not seen since 1998, driven by a convergence of Middle East conflict fears, Bank of England rate-hike expectations, and political uncertainty around Prime Minister Keir Starmer's leadership. The spike compounds a fiscal squeeze in which debt interest already consumes £110 billion a year, with £140.7 billion in gilts maturing in 2026-27 alone and roughly five million mortgage holders facing deal renewals by end of year.