UK gilt yields surge ahead of Trump Iran deadline

LONDON, April 7 (Reuters) - British 10-year ​government bond ⁠yields headed for their ​biggest rise since March 26 on Tuesday after oil prices ​jumped ‌on renewed concerns about U.S. strikes on Iran and ⁠Iranian retaliation.

Ten-year government bond yields rose ⁠as much as 11 ​basis points from Thursday's close before the Easter holiday weekend to 4.952% at 1513 GMT, before paring ​gains ‌but remaining on track for the biggest jump since a 13.5 bp move on March 26.

At 1525 GMT, two-year gilt yields were up 9 ​bps at 4.435% while 30-year yields were 6 ‌bps higher at 5.52%, both in line with moves for similar German bonds.

U.S. ‌President Donald Trump has said "a whole civilization will die tonight" if Iran does not reopen the Strait ​of Hormuz by 8 p.m. in Washington (0000 GMT), while Iran has ‌said it will target a wider range of Gulf infrastructure in response.

Gilt yields in recent weeks have ⁠closely ⁠tracked moves in oil prices, which rose ‌as much as $5 after Trump's comments.

Financial markets price 2-3 rate hikes ​by ​the Bank of England this year, with ‌a nearly 50% chance of a rise on April 30 after the BoE's next meeting. (Reporting by David Milliken; editing by Suban Abdulla)