The yield on 10-year UK gilts (government bonds) rose from 5.37% to 5.41%, its highest level since 2007 and a fresh 19-year high, as a global bond sell-off intensified amid surging oil prices. Two-year gilt yields also exceeded 4.9% for the first time in three years. Mortgage experts said lenders were repricing residential and buy-to-let loans, with sub-4% fixed-rate offers disappearing and rates expected to move toward 5%. The market turmoil is increasing pressure on the Bank of England and the U.S. Federal Reserve to respond to renewed inflation risks. Brent crude rose above $109 a barrel during the week after Houthi rebels in Yemen, considered a proxy for Iran's forces, seized a key Red Sea port, threatening shipping. Oil prices had climbed 20% so far that month. The Federal Reserve was expected to raise rates on Wednesday, while the Bank of England was forecast to hold rates on Thursday; traders were pricing a rise from 3.75% to 4% in November, shortly after Chancellor John Healey's first Budget. Economists warned that higher rates, rising bond yields and fiscal concerns could form a self-reinforcing cycle, particularly in heavily indebted economies. The market update ended with the 10-year gilt yield at 5.317% and 20-year and 30-year yields near 5.9%, ahead of the latest inflation figures.