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Figures published this week showing inflation remains high have thrown bond markets “into a tailspin” and pushed Britain’s borrowing costs to G7 highs for the first time since the 2007 crash, according to the Daily Telegraph. The paper says Nationwide, Lloyds, Virgin Money and Halifax have all raised mortgage rates in response, and quotes the chief investment officer of Legal & General – the country’s largest asset manager – as saying the company is not currently making long-term investments in the UK debt market due to “No clearer [economic] a novel”.
