UK 20-Year Gilt Yield Hits 6% for First Time Since 1998

The UK’s 20-year government bond yield climbed to 6% on Oct. 8, reaching a level not seen since March 1998 as pressure intensified across global rates markets.

The yield rose 7 basis points during the day. The move puts long-term UK borrowing costs at a level that matters beyond the gilt market, as shifts in sovereign yields can influence liquidity and risk appetite across financial markets, including crypto.

The 6% threshold marks the first time the benchmark has reached that level since March 1998.