Rise in UK borrowing costs reverses after cabinet backs Starmer

Investors reassured by support for PM after fears about effect of a more left-leaning replacement on public financesBusiness live – latest updatesUK politics live – latest updatesUK borrowing costs dipped back on Monday after rising earlier in the day, as cabinet ministers voiced support for the embattled Keir Starmer.The yield, or interest rate, on UK benchmark bonds initially increased on Monday as traders reacted to Sunday’s resignation of the prime minister’s chief of staff, Morgan McSweeney, over the decision to appoint Peter Mandelson as ambassador to Washington. Continue reading...