UK Pays Highest Yield for 10-Year Gilt Sale Since 2008

The UK sold 10-year bonds at the highest yield since the global financial crisis, drawing record numbers of buyers keen to lock in returns that may fall back if the Middle East war comes to an end.

The 2036 gilt syndication raised a record £15 billion ($20.3 billion) and attracted £148 billion of investor orders, the most ever, according to data compiled by Bloomberg. The notes will hand investors a yield of 4.9158%, the UK Debt Management Office said. That’s the highest for any 10-year gilt sale since 2008, the data show.