GeriInvestor jitters over Starmer uncertainty drive UK borrowing costs to 28-year high

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Guardian Business12.05.2026BusinessUnited Kingdom

Investor jitters over Starmer uncertainty drive UK borrowing costs to 28-year high

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Bond yields soar and pound falls against dollar as investors brace for potential Labour leadership changeBusiness live – latest updatesUK politics live – latest updatesLong-term UK borrowing costs soared to the highest level in almost three decades on Tuesday as fears about a change of Labour leadership triggered investor jitters and warnings of further bond market turmoil.With investors worried about potential changes to Labour’s tax and spending plans, the yield – in effect the interest rate – on 30-year government bonds, or gilts hit a high on Tuesday of 5.81%, a rise of 14 basis points and the highest since 1998. Continue reading...

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