UK government borrowing costs have climbed to their highest levels in decades – and suddenly the bond market is back in focus.
In this episode of Investing Unlocked Extra, Georgie Frost is joined by author and award-winning investment journalist Cherry Reynard to unpack what’s happening in the gilt market, why investors are getting nervous about Britain’s finances and what it could mean for mortgages, pensions and the wider economy.
They discuss:
What gilts actually are – and why they matter
Why rising yields affect mortgage rates and borrowing costs
Whether this is another “Liz Truss moment”
The role of inflation, energy prices and political instability
Why bond markets care so much about fiscal credibility
Whether UK government debt is becoming a problem
How gilts show up in pensions and investments
Whether bonds are actually attractive again for investors
Cherry also explains the famous “bond vigilantes” idea, why markets can intimidate governments, and whether Britain’s finances are more fragile than many people realise.
If you’ve heard people talking about gilt yields and wondered why it matters to your own money, this episode breaks it down clearly, calmly and without jargon.
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