The yields on the United Kingdom's government bonds, also known as gilts, rose on Friday after Greater Manchester Mayor Andy Burnham won the Makerfield byelection by securing 55% of the votes, which made him a Member of Parliament (MP) and paved the way for him to challenge UK Prime Minister Keir Starmer for the Labour leadership. The UK prime minister congratulated Burnham, despite previous reports claiming that he plans to tell ministers to quit if they support Burnham for the Labour leadership.
The return on the ten-year government note climbed by 5.9 basis points to 4.8139% at 10:11 am CET, while the yield on the 30-year bond grew by 6.2 basis points to 5.5156% at the same time. Meanwhile, the yield on the two-year note advanced by 4.9 basis points to 4.2362% at 10:12 am CET.
https://breakingthenews.net/Article/UK-gilt-yields-rise-as-Starmer's-challenger-get-boost/66539124
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