UK 30-Year Gilt Yield Tops 6% for First Time Since 1998

The long end leading this move, with the 30-year pushing through 6% while the 2-year barely budges, points to term premium and fiscal risk being repriced rather than a shift in near-term rate expectations. A widening 2s10s curve alongside that pattern reinforces the read. The question worth watching is whether the 10-year follows through on its approach to the prior peak, which would signal this is a broader duration repricing rather than an isolated long-bond move.