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”
R4/ 10
Selective
Rubbish Rating — 1 = base fact, 10 = pure rubbish
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In short
Rubbish Talk rates the Daily Mail's headline claim of a "28-year high" in UK borrowing costs a 4/10 because the figure applies only to 30-year gilts, while the more widely watched 10-year benchmark, which the outlet's own page title uses, is at a smaller 19-year high.
The Verdict
Selective. The headline isn't false, but it cherry-picks the more dramatic of two yield figures reported in the same piece: a 28-year high on 30-year gilts, versus a 19-year high on the benchmark 10-year gilt used in the article's own page title. Everything else in the headline, the BofE rate-hike bets and the oil/gas-driven inflation angle, matches the body copy cleanly.
What actually happened
UK gilt yields rose sharply as Brent crude pushed past $107 a barrel and UK gas prices hit their highest level since December 2022. Markets responded by pricing in more Bank of England rate hikes, while stock markets across Europe, the US and UK fell.
Key facts
- 30-year gilt yield hit 5.948pc, the highest since 1998, a 28-year high (as the headline states).
- 10-year gilt yield hit 5.38pc, the highest since 2007, a 19-year high (the figure used in the outlet's own page title, not the headline).
- Markets now price in as many as five BofE rate hikes between now and end-2027, with the first expected in November.
- ONS data show UK gas prices at their highest since December 2022, up 128pc year-on-year.
- Brent crude rose past $107 a barrel, up from $96 the previous week, its biggest weekly rise since July.
- FTSE 100 closed down 0.6pc (61.1 points) at 10,608.9.
What to watch for
- Watch whether coverage settles on the 30-year or 10-year gilt figure going forward; the two headlines running side by side (28-year vs 19-year) suggests even the publisher wasn't consistent about which maturity is the real story.
- Check whether the pencilled-in five BofE hikes survive contact with actual meetings; markets currently expect the Bank to hold at 3.75pc at its next meeting.
- The Chancellor's Budget next month is the real test of whether gilt-market stress becomes a fiscal headache, not just a market-day headline.
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.
