UK bonds have hit a 25-year high – here's what that means for the economy

By David McMillan, Professor in Finance, University of Stirling

It’s been more than a year since the UK economy was thrown into crisis after then-prime minister Liz Truss suggested making a wealth of unfunded tax cuts in her September 2022 mini-budget. But a recent bond market sell-off has now sent borrowing costs rocketing again, pushing the bond market even higher than after Truss’s announcement.

Yields on UK treasury bonds – the rate the UK government must pay to borrow money – have risen to approximately…

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