UK 10-year gilt yields rose on Wednesday amid higher oil prices and US Treasury yields, peaking at 5.44% — the highest since Oct. 1 — and touching an intraday 19-year high of 5.51%. Chancellor John Healey met economists hired by gilt primary dealers to gauge market sentiment ahead of his first budget on Oct. 28; BofA economists say the budget could raise government borrowing by about £15 bln (~$19.9 bln) in both the current fiscal year and 2027/28, narrowing fiscal headroom for long-term targets

UK 10-year gilt yields rose on Wednesday amid higher oil prices and US Treasury yields, peaking at 5.44% — the highest since Oct. 1 — and touching an intraday 19-year high of 5.51%. Chancellor John Healey met economists hired by gilt primary dealers to gauge market sentiment ahead of his first budget on Oct. 28; BofA economists say the budget could raise government borrowing by about £15 bln (~$19.9 bln) in both the current fiscal year and 2027/28, narrowing fiscal headroom for long-term targets. The DMO plans auctions of gilts maturing Jan. 2028 and Jul. 2031 later Wednesday.