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UK bond prices collapse after sterling hits record low

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LONDON — British government bond prices collapsed on Monday when trading started, after sterling hit a record low against the U.S. dollar overnight, pushing yields to their highest in more than a decade.

Five-year gilt yields jumped more than 40 basis points to 4.503%, their highest since October 2008, while two-year yields rose more than 50 basis points amount to their highest since September 2008 at 4.533%. (Reporting by David Milliken; Editing by Kate Holton)



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