[UK Central Bank Rate Hike Expectations Heat Up, UK Government Bond Yields Surge] Jinshi Data, July 23 – UK government bond yields saw a significant rise today. The 10-year UK government bond yield climbed more than 4 basis points intraday, reaching 5.08%, marking a new high in over two months. At the end of June, the yield was only 4.72%. Investinglive analyst Justin Low stated that the increase was driven by rising energy prices, which have elevated inflation expectations. This also suggests a more hawkish policy outlook for the Bank of England. Currently, the market expects the Bank of England to raise rates by approximately 48 basis points by the end of the year, significantly higher than the roughly 20 basis points anticipated a month ago and even last week's estimate of about 36 basis points. Another obvious factor influencing global bond markets and major central bank expectations is the renewed tension in US-Iran relations. However, for the UK, fiscal concerns are resurfacing. Bond market "vigilantes" appear to be making a comeback, especially after the Burnham government's chaotic first policy statement. As a result, the UK government bond market faces multiple pressures. The driving force behind the yield increase is not inflation concerns but rather investors demanding higher yield premiums to hold UK government bonds amid fiscal worries.