UK 30-Year Gilt Yields Hit 28-Year High

UK 30-year gilt yields rose to 5.768% on 5 May 2026, highest since May 1998.
10-year gilt yields climbed 13 bps to 5.095%, surpassing the 5% threshold and set for highest close since 2008.
Two-year yields jumped 13 bps to 4.558% amid broad gilt selloff ahead of Thursday's local elections.
Yield increases coincided with U.S. and German yields rising due to shipping disruptions in the Strait of Hormuz.