LONDON, Jan. 8 (Xinhua) -- By 2 p.m. local time on Wednesday, the yield on British 30-year gilts climbed above 5.35 percent, following a peak on Tuesday that marked the highest level since 1998.

The yield on 10-year gilts also rose to nearly 4.8 percent, exceeding levels seen after the Liz Truss government announced its mini-budget in 2022. That fiscal plan triggered a sharp decline in gilt values and drove up government borrowing costs.

As gilt yields rise when bond prices fall, the latest increases could add pressure to the British government's plans to expand spending plans in the year ahead. Enditem

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