Long-term UK bond yields surge to 28-year high as Starmer leadership fears rattle markets

Long-term British borrowing costs surged to their highest since 1998, sterling slumped and shares fell on Tuesday (May 12) as investors ​brace for a potential change of leadership that could weaken fiscal discipline.
Prime Minister Keir Starmer is under mounting pressure to resign after his ‌governing Labour Party suffered big losses in last week's local elections, but he remained defiant on Tuesday at a cabinet meeting, telling ministers he would "get on with governing". Almost 80 of his lawmakers have called on him to go. CNA's Paul Sng takes a look at the forces driving the world's fifth largest economy.

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