Starmer’s Rival Burnham Opens Path to a Challenge, Hitting Gilts

UK government bond yields jumped Friday morning as one of Keir Starmer’s top rivals, Andy Burnham, prepared to run for parliament — a process necessary for him to potentially topple the Prime Minister.

Gilts slumped at the open, sending the 10-year yield 11 basis points higher to 5.10%. Bonds globally are also selling off on higher oil prices, which is fanning inflation concerns.