Are the markets already turning on Andy Burnham?

By LBC

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00:19 City AM Editor-in-Chief Christian May reacts to front pages highlighting concerns about the bond markets. 03:33 Nick Ferrari asks minister Sally Jameson whether she's worried about an increase in borrowing costs. Andy Burnham's speech has made the economic task at hand more difficult, as borrowing costs spiked in the wake of his address to the House. Government long-term borrowing costs have been sent soaring to their highest levels for 28 years, amid a global bond sell-off partly linked to signs of escalation in the Middle East conflict and the concern that inflation could follow. The yield on 10-year gilts stretched to 5.22% from 5.15% on Friday, while the 30-year hit 5.85%, up from 5.79% on Friday. The 10-year gilt had earlier traded as high as 5.25%, an 18-year high, and the 30-year at 5.89%, a level last seen in 1998. Kathleen Brooks, research director at XTB, said the rise in bond yields poses a “major challenge” for the Chancellor ahead of next month’s Budget. She sa

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