UK’s cost of borrowing on international markets overtakes Greece and Italy - short news
Five-year British government bonds fall dramatically as traders price in higher risk of default on debt
Britain’s cost of borrowing on international money markets has jumped above the rates paid by Greece and Italy as traders priced in a higher risk of default on UK government debt.
After frantic selling since Kwasi Kwarteng’s mini-budget last Friday, the five-year UK government bonds suffered a dramatic fall in value, which had the effect of doubling the interest rate on..
source: The Guardian - 27.09.2022