The cost of borrowing over 10 years for the British government has risen above 3% for the first time since July 2011.
It is a sign that the financial markets believe that efforts to boost the US and UK economies will be withdrawn sooner than thought.
On Thursday, a report showed that activity in the US service sector hit the highest level since December 2005.
That follows data on Wednesday showing UK service sector activity running at a six-year high.
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