UK Is the Center of Inflation Angst as Yields Spike to 2008 High

The UK’s shaky bond market is at the heart of investor worries that the war in Iran is about to unleash faster inflation and strain government finances.

As yields soared globally on concern central banks will be forced to tighten monetary policy, the UK endured some of the most extreme market moves. The 10-year yield, a benchmark for Britain’s borrowing costs, shot to 5% for the first time since the 2008 financial crisis.