The tariff shockwave sweeps across the global bond market, with borrowing costs in the UK reaching a 27-year high

As U.S. long-term interest rates soar, borrowing costs in the UK have reached their highest level since 1998, with the 30-year government bond yield rising by 16 basis points in a single day to 5.51%. The exchange rate of the British pound against the euro has fallen to a one-year low, reflecting market pessimism about the UK economic outlook. Economic uncertainty triggered by the global tariff war has led investors to sell off risk assets, putting dual pressure on the UK bond market, where long-term bond yields continue to climb, while short-term debt is supported by expectations of interest rate cuts