UK and US long-term yields hit multi-year highs amid rising global borrowing costs and cooling US job openings.

Global borrowing costs are rising, with UK 30-year gilt yields reaching 5.8%, the highest since 1998, and US 30-year Treasury yields surpassing 5% for the first time since July. This reflects market expectations of continued central bank rate hikes to combat inflation fueled by elevated oil prices. Meanwhile, US job openings declined slightly but remain above consensus, indicating a cooling yet resilient labor market amid geopolitical tensions. In the stock market, Duolingo shares fell despite beating Q1 earnings expectations due to a softer growth forecast, while Michael Burry exited GameStop after the company announced a $56 billion acquisition plan for eBay, citing excessive leverage concerns.