UK 10-Year Gilt Yield Climbs to 5.418% as Bid-to-Cover Ratio Rises

The UK’s 10-year gilt, a government bond, rose in yield while a measure of demand strengthened, putting borrowing costs in focus for global markets, including crypto.

The 10-year gilt yield climbed to 5.418% from 5.383%.

The bid-to-cover ratio also rose to 3.61, indicating stronger demand for UK government debt. The ratio compares the value of bids with the amount sold.

Elsewhere in the UK bond market, the 20-year gilt yield reached 6% on Oct. 8, a level last seen in March 1998.

The Bank of England, the UK’s central bank, is scheduled to make its next policy decision Nov. 5.