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UK 10-Year Gilt Yields Breach 5.1%, 30-Year Hits 28-Year High on May 12

GateNews
Forex

According to Allianz Chief Economist Mohamed El-Erian, UK 10-year gilt yields breached 5.1% on May 12, while 30-year yields reached their highest level since March 1998. Despite the sharp rise in government bond yields, sterling failed to gain support and remained under pressure. El-Erian warned that maintaining market confidence in fiscal stability is essential to avoid a repeat of the 2022 “Liz Truss moment,” which pushed UK pension systems to the brink of collapse.

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