Money Distilled

Politics Only Partly Explains Jitters in Gilts

The real problem is far more serious.
Keir Starmer, UK prime minister. It’s not his fate markets are worried about.Photographer: Jose Sarmento Matos/Bloomberg
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Welcome to the award-winning Money Distilled newsletter. I’m John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money.

Yesterday brought lots of stories about Britain’s 30-year borrowing cost hitting its highest level since 1998.