Squeezed households face yet more pain in the coming weeks as the bond market wreaks havoc on their finances.
Families are already battling climbing home loan costs, rising grocery prices and energy bills that could soar by hundreds of pounds a year from January.
Now chaos on the bond markets may add another dent to bank accounts. Bond investors have seen a global rout, with yields reaching multi-decade highs at the tail end of last week.
US ten-year Treasuries climbed to their highest level in 24 years, while in the UK yields on 30-year gilts climbed to 6 per cent for the first time
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