UK Gilt Sale Faces Highest Funding Cost Since 1998

TREE NEWS reports: The UK is set to pay the highest funding cost on a gilt sale since at least 1998, as a global bond selloff pushes yields higher and squeezes fiscal room. The government is marketing a benchmark 2056-dated bond, priced to yield about 0.75-1 basis point above the 2055 gilt, which would mark the most expensive issuance since the Debt Management Office was founded.