The yield on 10-year U.S. Treasuries has reached its highest level since January.

UK government borrowing costs rose following Chancellor Rachel Reeves' budget update and President Trump's recent tariff announcement. The yield on 10-year British government bonds reached its highest level since January.

During the day, the yield on the 10-year British bond increased by over 7 basis points, hitting 4.803%, the highest since January 15, when UK bonds were penalized in global government bond sales. Similarly, US Treasury yields surged sharply as global financial markets reacted to Trump's new import tariffs on cars, currently standing at 4.393.