UK Borrowing Rates Hit 5.80% Highest Since 1998 as Leadership Fears Rattle Gilts

19 articles · Updated · BBC.com · May 12

30-year UK government borrowing costs climbed to 5.80% and 10-year yields reached 5.13%, extending a selloff across two-, five-, 10- and 30-year debt.
Inflation fears tied to the Iran war and investor concern that a change in Downing Street could bring looser public spending drove the jump in yields.
Rachel Reeves and the prime minister have stressed “iron clad” borrowing rules to calm markets, but economists say potential successors may be seen as less fiscally disciplined.
The move pushes gilt yields back to levels last seen in 1998 for 30-year debt and near the highs of the 2008 financial crisis for 10-year borrowing.

As UK bonds tumble, is the true cause a political crisis at home or a brewing global energy war?

With Britain’s finances squeezed by war and politics, are deep cuts to public services now inevitable?

With its voters fleeing to rivals, can Labour survive its deepest crisis in a generation?