The translation of the heading is: "UK Bond Yields Rise to Five-Month High: Markets React to Higher Debt Levels

British bond yields reached a new five-month high on Thursday, driven by investor concerns about increased debt announced by Finance Minister Rachel Reeves in the new budget plan. The yield on ten-year British government bonds rose by 0.04 percentage points to 4.39%, while the two-year yield climbed by 0.04 percentage points to 4.35%. These developments followed a turbulent trading day on Wednesday, when the bond market initially reacted positively to the Labour Party's first budget in 14 years. However, the extent of the additional debt later became clear, reversing market sentiment. Analysts cited an increase in debt by £28 billion annually during the parliamentary term. This measure is being described as one of the most significant fiscal relaxations in recent times, according to the Office for Budget Responsibility (OBR). Additionally, the Debt Management Office forecasts that debt sales in the current fiscal year are expected to reach £300 billion, surpassing the previous estimate of £278 billion and slightly exceeding investor expectations. Mohit Kumar, a fixed-income analyst at Jefferies, noted on Thursday that the immediate concern of the market is the fiscal expansion, which is to be financed through long-term bond issuances. The OBR stated that the additional debt was not fully anticipated by investors and could likely lead to higher interest rates in the coming years.