Analysts split over Reeves' culpability in UK gilt chaos as US bonds follow suit

While US yields follow suit

The latest rise in UK gilt yields has revealed markets' concerns about the UK government's ability to manage its debt, as investors look for a culprit.

According to data from MarketWatch, 30-Year gilt yields stood at 5.34% today (9 January), while 10-Year gilt yields were at 4.79%. In addition, this morning the pound fell to its lowest level against the US dollar in 14 months, hitting a low of $1.2239 before slightly recovering to $1.23 at the time of reporting. Treasury steps in to defend Reeves' borrowing amid gilt market selloff The Treasury has since stepped in to quell markets' concerns, rejecting claims that higher debt costs had limited Chancellor Rachel Reeves's headroom for borrowing and calling such worries "pure sp...