Bond vigilantes eye up Britain

Long-term UK borrowing costs have hit a 27-year high as bond vigilantes pile pressure on chancellor Rachel Reeves. Yields on 30-year gilts rose to 5.72% on Tuesday, a 28-year high. Global factors prompted the sell-off, with German and French bond yields hitting their highest levels since 2011. But Keir Starmer’s mini re-shuffle this week is making bond traders nervous that Reeves is being “managed out”, Kathleen Brooks of XTB tells The Guardian. Yields briefly spiked in July when the chancellor ...