The yield on 10-year UK bonds reached its highest level since May, as the deal between OPEC and other oil producers increased inflation expectations and prompted investors to sell government bonds.

It is worth emphasizing that the yield on 10-year UK bonds rose three-fold from its historic low of 0.5 percent in August, as investors expected the Bank of England to lower interest rates to help offset the economic impact of the country's decision to leave the European Union. Since then, the economy has performed well and is much stronger than expected. Last month the Bank of England said that moves to the neutral position regarding rates.