UK bond yields surge as Burnham finds possible path to Downing Street

LONDON, May ​15 (Reuters) - ⁠British government borrowing costs ​jumped on Friday ​with long-term ‌yields climbing ⁠by more than those of ⁠German ​bunds after Andy Burnham, on the left of the ​governing ‌Labour Party, secured a possible path to ​challenge Prime Minister Keir Starmer.

The ‌yields on 30-year British gilts - ‌a barometer of how investors view the long-term borrowing ​needs of the government - leapt ‌by almost 13 basis points in early ⁠trade to ⁠a high ‌of 5.778%.

German 30-year bund yields ​were ​up ‌by 3-4 bps.