The 30-year UK gilt yield hit 5.89% on Tuesday, its highest since 1998 and above the 2022 mini-budget peak. A global bond sell-off collided with weakening mortgage approvals and a divided Bank of England rate committee ahead of October's Budget.
UK house-price inflation remains well below earnings growth after August’s 1.6% Nationwide print missed the 2.1% consensus, leaving affordability still improving even as activity stays subdued. Source
