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UK government borrowing costs surge to highest since 2008 as PM Starmer pressured to quit

CNBC·Chloe Taylor·20 days ago
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British Prime Minister Keir Starmer speaks at the start of a Cabinet meeting to mark the fourth anniversary of Russia's full-scale invasion of Ukraine, at Downing Street in London, Feb. 24, 2026. Wpa Pool | Getty Images News | Getty Images Yields on U.K. government bonds surged to multi-decade highs on Tuesday morning, as pressure mounted on Prime Minister Keir Starmer to resign from his post. By 10:20 a.m. in London, the yield on the benchmark 10-year gilt had jumped 12 basis points to trade at around 5.121%. Bond yields and prices move in opposite directions. Meanwhile, yields at the long end of the curve reached their highest since 1998, with the 20-year gilt yield adding 13 basis points while 30-year yields jumped 12 basis points higher. Stock Chart Icon Stock chart icon U.K. 20- and 30-year gilts Starmer's leadership is on a knife edge after more than 70 Labour lawmakers called for his resignation.…

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