The yield on the United Kingdom’s four-year government bonds, known as gilts, has risen to 4.945%, up from the previous level of 4.786%. This increase occurred alongside a rise in the bid-to-cover ratio to 3.415, indicating strong demand at the latest auction. The upward trend in gilt yields reflects broader pressures on UK government borrowing costs, with longer maturities also experiencing significant yield increases. Market participants now anticipate tighter monetary policy and estimate a low probability of the Bank of England cutting rates in November.
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