"This isn't easy and it's not without pain, as I have a genuine friendship with Keir Starmer. But my first priority and my first loyalty is to my country, Scotland. That's why the distraction needs to end and the leadership in Downing Street has to change. We cannot allow the failures at the heart of Downing Street to mean the failures continue here in Scotland."
"Politics were front of mind for investors in the UK after the resignation of chief of staff, Morgan McSweeney. Gilt yields and the pound nudged slightly higher as markets digested ongoing speculation about the future of Keir Starmer as Prime Minister. Movement among government bonds and the currency suggests there is no panic on financial markets about the stability of the UK Government."
Political turmoil tied to the Peter Mandelson scandal weakened the pound against the euro on Monday afternoon. Borrowing costs spiked after Scottish leader Anwar Sarwar called on Sir Keir Starmer to resign, with 10-year guilts rising to 4.567% and 30-year guilts remaining elevated at 4.389%. Markets showed only a muted response to Morgan McSweeney's resignation on Sunday. Sarwar stressed his loyalty to Scotland and argued that Downing Street leadership must change to prevent failures spreading to Scotland. Market commentary indicated politics were front of mind but that there was no evidence of panic among investors.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]