UK gilt yields slide to five-week lows; 10-year at 4.85% as rate-hike bets cool

U.K. government bond yields fell to five-week lows on Tuesday, with the 10-year gilt at 4.85% and the 30-year easing to 5.552%. Markets steadied as political uncertainty around Prime Minister Keir Starmer appeared to soften and expectations for future rate hikes were pared back.