U.K. Bonds Fall Amid Political Tensions and Inflation Data
The U.K.'s consumer price index remained stable at 2.8% in May, providing the Bank of England with room to hold interest rates steady at 3.75%. However, political turmoil sparked by Greater Manchester Mayor Andy Burnham's challenge to Prime Minister Keir Starmer led investors to sell off British government debt, pushing 30-year gilt yields to a three-decade high.
Topics: Bank of England gilt yields Labour Party civil war UK inflation