“The cost of long-term UK government borrowing has touched the highest in almost three decades as speculation swirls over the future of Prime Minister Keir Starmer following his party’s heavy losses in local elections,” Bloomberg reports.“Yields on Britain’s 30-year bonds — among the most sensitive to fiscal and political risk — rose above 5.8% on May 12, a level not seen since 1998. The jump shows investors are pricing in the risk that Starmer will be replaced by a more left-leaning figure from the governing Labour Party who may loosen his administration’s self-imposed “fiscal rules” that limit the scope for new borrowing.”