Britain’s Prime Minister Keir Starmer speaks on the phone to U.S. President Donald Trump at a car factory in the West Midlands, Britain, Thursday, May 8, 2025.
Alberto Pezzali | Via Reuters
U.K. government borrowing costs spiked on Wednesday, amid mounting signs of division within the governing Labour party.
The yield on benchmark 10-year government bonds, known as gilts, was 22 basis points higher at 1:33 p.m. in London.
UK 10 year gilt yield
Tensions have been rising in the ruling Labour party amid the debate on a contentious welfare reform bill, which ultimately passed on Tuesday with steep concessions.
This breaking story is being updated.
