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Market expectations for the Bank of England to raise interest rates in the coming months have risen, with UK government bond yields reaching multi-year highs and the pound strengthening. According to data from the London Stock Exchange Group (LSEG), the rise in oil prices has intensified inflation concerns, with investors taking into account the Bank of England's expectation of raising interest rates four times by July 2027. The yield of UK 10-year treasury bond hit 5.509%, the highest level since 2007. The yield of 30-year treasury bond rose to 6% for the first time since 1998, and the euro fell to a seven week low against the pound.