FTSE 100 LIVE: Stocks fall as UK 30-year bond yields surge and eurozone inflation rises

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The FTSE 100 (^FTSE) and European stocks headed lower on Tuesday as the UK’s long-term cost of borrowing hit its highest level since 1998.

The 30-year gilt yield, or interest rate, has risen to 5.680% in early trading, over the previous 27-year high set on 9 April. It comes a a blow to chancellor Rachel Reeves, who will be drawing up this autumn’s budget.

Jim Reid of Deutsche Bank said: "Even in orderly markets, we’re seeing a slow-moving vicious circle: rising debt concerns push yields higher, worsening debt dynamics, which in turn push yields higher again."

By LaToya Harding

Full story at Yahoo News