UK 10-year gilt yields hit their highest level since 2008

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The 10-year gilt yield hit its highest level since the global financial crisis on Wednesday after the pace of UK bond sales picked up.

10 years Gilt In morning trade, it was up 0.09 percentage point to 4.78 percent, the highest level since October 2008, according to Bloomberg data. Products, on the contrary, move to prices.

The 30-year gilt yield — which rose to its highest level since 1998 on Tuesday — also touched 5.33 percent.

Sterling, meanwhile, fell 0.9 percent to $1.236 against the dollar.

This is a developing story.