UK borrowing costs hit highest since 1998 amid Starmer uncertainty
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Bond yields soar and pound falls against dollar as investors brace for potential Labour leadership change
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.
Starmer is consulting colleagues before a crunch cabinet meeting on Tuesday morning that comes after ministerial aides quit and more than 70 MPs publicly called for him to go.
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