The yield on UK 30-year government bonds hit a new high since 1998.

On Tuesday, the UK auctioned 30-year government bonds, with the highest yield ever recorded for a 30-year bond since the Debt Management Office (DMO) first began such auctions in 1998. The UK Debt Management Office (DMO) issued £1 billion of 5.375% conventional government bonds maturing in 2056 at an average yield of 5.540%, with bids reaching 3.75 times the issuance size.