Rubbish Check
Daily Mail Money · 10 September 2026
source“UK borrowing costs hit 28-year high in bond market rout and markets ramp up BofE rate hike bets as soaring oil and gas prices fuel inflation fears”
R2/ 10
Lightly altered
Rubbish Rating — 1 = base fact, 10 = pure rubbish
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In short
Rubbish Talk rates Daily Mail Money's claim that UK borrowing costs hit a "28-year high" a 2/10 because the figure is correct for 30-year gilts, but the outlet's own page title contradicts it by citing a "19-year high" for a different bond, the 10-year gilt.
The Verdict
Lightly altered. The core claims (record-territory gilt yields, rising BoE hike bets, an oil-and-gas driven inflation scare) are all borne out in the body and corroborated independently by other financial press covering the same gilt sell-off. The only real flaw is sloppiness, not spin: the outlet publishes two different "years since" figures for two different bonds without ever flagging that they're separate instruments.
What actually happened
UK 30-year gilt yields rose to 5.948%, the highest since 1998, while 10-year yields hit 5.38%, the highest since 2007. The moves came alongside a broader bond sell-off, a jump in Brent crude past $107 a barrel and a 128% year-on-year rise in UK gas prices, all of which pushed markets to price in more Bank of England rate hikes.
Key facts
- 30-year gilt yield: 5.948%, "the highest since 1998" per the article; independently corroborated by Bloomberg reporting 30-year gilt yields hitting the highest since 1998 in the same period, at 5.78-5.89%.
- 10-year gilt yield: 5.38%, the highest since 2007, per the article, a separate maturity from the 30-year figure used in the headline.
- Markets pricing in as many as five BoE hikes between now and end-2027, first expected November, per the article; BoE itself expected to hold at 3.75% the following day.
- UK gas prices up 128% year-on-year, the highest since December 2022, per ONS figures cited in the article.
- Brent crude above $107/barrel, highest since May, up from $96 a week earlier, per the article.
What to watch for
- Watch whether the BoE actually delivers the five priced-in hikes through 2027, or whether bets get walked back once the November decision lands.
- The headline conflates two different bond maturities (30-year vs 10-year) under one "X-year high" framing; future coverage should specify which gilt is being quoted to avoid confusion.
- E.ON's forecast of an 18% January energy bill rise is a supplier estimate, not a regulator figure, worth checking against the actual Ofgem price cap when set.
About this scoreThe R-Score is Rubbish Talk's editorial opinion on how far a headline's framing sits from what the underlying facts support. It is a judgement about presentation and emphasis, not an allegation that any outlet has acted dishonestly. Every figure we rely on is linked under Receipts so you can check it yourself.
