UK inflation jumped to 3.5%, cementing rate hike expectations. The BoE is boxed in and front-end gilts are the pressure point: every hot print now costs duration.

What happened: U.K. inflation rose 3.5% in the 12 months to September, above expectations, driven by surging motor fuel costs. Key numbers: 3.5% inflation rate for the 12 months to September. Why it matters: The hotter-than-expected reading cements rate hike expectations, per the headline.

U.K. inflation rose 3.5% in the 12 months to September, above expectations, driven by surging motor fuel costs.

The hotter-than-expected reading cements rate hike expectations, per the headline.