sed backslash back-quote is carat (^)?

[Pickett, David]

Hi,
 
I used this gnu sed command, overly escaped, and got surprised (sed is
Solaris 8 sed, gsed is gnu sed-3.02.80).  In gnu sed '\`' seems to be like
'^', an undocumented feature:
 
tdas-srv2:3:pts/77 /export/home/uabdp3
$ echo hello|sed 's/\`/\%60/g'|od -bc              
0000000 150 145 154 154 157 012
           h   e   l   l   o  \n
0000006
tdas-srv2:3:pts/77 /export/home/uabdp3
$ echo hello|gsed 's/\`/\%60/g'|od -bc
0000000 045 066 060 150 145 154 154 157 012
           %   6   0   h   e   l   l   o  \n
0000011
tdas-srv2:3:pts/77 /export/home/uabdp3
$ 

Best regards,
 
David