UK government bond yields have risen sharply, with the 30-year gilt yield reaching 5.63%, the highest level since May 1998 and close to a 27-year peak. This represents the largest daily increase among major global economies, with a jump of nine basis points recorded on the day. The 2-year to 30-year yield spread widened to 121 basis points, marking the steepest curve since January 2022. The UK Debt Management Office announced a sale of 10/2035 gilts with a 4.75% coupon scheduled for the week of September 1. Market observers note that the 10-year gilt yield is testing the 4.75% level again, signaling rising borrowing costs for the UK government amid these developments.