Bond yields soar and pound falls against dollar as investors brace for potential Labour leadership change Business live – latest updates UK politics live – latest updates Long-term UK borrowing costs have soared to the highest level in nearly three decades while the pound and stocks fell as investors braced for a potential change of leadership, with cabinet ministers urging Keir Starmer to quit . With investors worried about potential changes to the fiscal rigour of Starmer’s government, the yield – in effect the interest rate – on 30-year government bonds jumped 11 basis points to 5.794%, the highest since May 1998. Continue reading...