Gilts Drop as Calls Grow for UK Prime Minister to Step Down
Prime Minister Keir Starmer during a speech in London, on May 11.
Photographer: Carl Court/Getty Images
UK bonds were swept up in another selloff as investors grew increasingly anxious about Britain’s finances, given the risk of fresh challenges to Prime Minister Keir Starmer’s leadership.
Yields on 30-year gilts, which tend to be more sensitive to political and fiscal risks, rose almost 11 basis points to 5.69%, close to a three-decade high reached last week. Investors worry a change of prime minister could bring in a left-leaning candidate whose spending plans require bigger bond sales.