BoE Hawkishness Sends UK Gilt Yields Skyward

UK gilt yields have risen to a near two-decade high of 5.4% as investors digest comments from Bank of England policymakers.

BoE Governor Andrew Bailey warned that persistently high energy prices would make it harder for the central bank to keep rates on hold.

MPC members Sarah Breeden and Clare Lombardelli signaled they were moving closer to supporting a rate hike as rising energy prices increased the risk of inflation remaining above target.