UK Bond Yields Surge on Strong Labor and Wage Data
TL;DR Summary
UK short-term borrowing costs have risen above levels last seen following the "mini-budget" crisis after labor market data showed rising wage growth. The yield on two-year gilts hit 4.754%, the highest level since late Aug. 2008, as annual average wage growth accelerated from 6.6% to 7.2% in the February-April quarter, beating economist expectations.
- UK short-term borrowing costs shoot past 'mini-budget' crisis levels on strong labor data CNBC
- U.K.'s Strong Wage Growth Sends Bond Yields Higher The Wall Street Journal
- Gilt yields surpass mini-Budget level on strong UK wage growth Financial Times
- UK Two-Year Yield Rises to Highest Since 2008 After Jobs Data Bloomberg
- UK short-term borrowing costs surge above Truss-era highs as more UK interest rate rises loom – business live The Guardian
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