That is the highest level since late 2008 as UK assets are responding as though like it is an emerging market since last Friday's budget announcement. 10-year yields are up 25 bps on the day to 4.08% - its highest since 2010. The pound is seeing a bit of a reprieve in a bounce to 1.0700 on the day, though it is still down 1.4%. That said, the low earlier touched 1.0357 so this is at least a bit of comfort after fears that it might just collapse all the way to parity in a free-falling move.
