UK 20-year gilt yields rise to highest since BoE’s Sept. 28 intervention

LONDON (Reuters) – British 20-year government bond yields rose on Thursday to their highest since the Bank of England announced on Sept. 28 that it would intervene in the gilt market, with long-dated gilts in particular underperforming against German debt.

Twenty-year gilt yields were up 12 basis points at 4.424% at 1030 GMT while the equivalent German bond was flat.

Two-year gilt yields rose 16 basis points on the day to 4.159%, their highest since Oct. 3.

All yields were well below the peaks at which the BoE intervened and have not risen as sharply as in the run-up to the intervention, when some investment funds told the BoE they were close to collapse.

(Reporting by David Milliken; editing by Jason Neely)