News · 9 May 2026
Starmer staying as PM calms UK borrowing costs
UK government borrowing costs eased and the pound strengthened on Friday, bringing relief to financial markets. This positive shift occurred after Keir Starmer confirmed he would remain prime minister, despite Labour's losses in council seats. The yield on 10-year gilts dropped 5 basis points to 4.89%, with 30-year bond yields also decreasing to their lowest in over two weeks.
Reported by The Guardian · How we write briefs