Questions over the future independence of the Federal Reserve sparked a sell-off in long-dated government bonds around the world (Photo by David Paul Morris/Bloomberg via Getty Images)

Spiking interest rates on the UK government’s borrowing costs have set off a fresh wave of commentary on the health of Britain’s economy. Ali Lyon explores why it is only long-dated bonds where tremors have been most pronounced, and why the U has plenty of company.

What will you be doing in 30 years’ time?

It’s a question to which most of us rarely – if ever – devote much serious thought. Indeed readers of a certain vintage may want actively to avoid chewing over what awaits them in 2055.

But for the economists and fixed income specialists who lurk in the arcane world of sovereign debt and government bon

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