The UK treasury bond market experienced a sell-off, and the decline widened further. Traders have sharply increased their bets on the Bank of England's interest rate hike, driving the yield on UK 10-year treasury bonds to the highest level since this week. According to the data, the yield on UK 10-year treasury bonds rose 6 basis points to 5.01% on the same day. In comparison, the yield on German 10-year treasury bonds rose 2 basis points to 3.14% over the same period.

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