UK gilt yields surged by the most in a day in well over a decade as the UK Debt Management Office laid out plans for additional issuance to fund the planned spending, while the pound hit new 37-year lows against the dollar.slid even further into the red, in line with a broader equity-market decline.BONDS: Two-year gilt yields rose by nearly 50 basis points at one point, to a high of 3.
FOREX: Sterling extended losses, falling 1.4% on the day to around $1.11055, having hit a new 37-year low earlier on. STOCKS: The FTSE 100 was last down 1.6% on the day, having traded around two-and-a-half month lows, but not all sectors were mired in the red. British homebuilders and household goods makers hit session highs, buoyed by the prospect of consumers getting tax breaks.