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The yield on the 10-year gilt on Wednesday rose to its highest level since the height of the global financial crisis as a UK bond sell-off gathered pace.
The 10-year gilt yield climbed as much as 0.09 percentage points to 4.78 per cent in late-morning trade, its highest level since October 2008, according to Bloomberg data. Yields move inversely to prices.
The yield on the 30-year gilt — which on Tuesday rose to its highest level since 1998 — also continued to climb, touching 5.33 per cent.
Sterling, meanwhile, fell 0.9 per cent against the dollar to $1.236.
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