The British debt market came under strong pressure after Manchester Mayor Andy Burnham gained the ability to run for a parliamentary seat. For investors, this is a signal that he could, in the future, open a path toward competing for the leadership of the Labour Party and, consequently, challenging Prime Minister Keir Starmer. The mere prospect of such a scenario was enough to trigger a nervous reaction in the bond market. The yield on 30-year UK government bonds rose by as much as 20 basis points to 5.86%, reaching its highest level since 1998. The yield on 10-year bonds, meanwhile, climbed to 5.18%, a level not ... (full story)