--- title: "随着压力加大在首相斯塔默身上，长期英国借款成本跃升至多年高点——更新" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/286075677.md" description: "英国 30 年期政府债券收益率达到了自 1998 年以来的最高水平，而 10 年期借贷成本也大幅上升，因在地方选举中遭遇重大失利后，首相基尔·斯塔默面临越来越大的辞职压力。75 名工党议员呼吁斯塔默辞职，担心一位左倾的继任者可能会导致政府支出增加，进一步恶化公共财政。这种政治不确定性对英镑和国债收益率产生了负面影响，因为投资者对英国资产要求更高的风险溢价" datetime: "2026-05-12T10:01:41.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286075677.md) - [en](https://longbridge.com/en/news/286075677.md) - [zh-HK](https://longbridge.com/zh-HK/news/286075677.md) --- # 随着压力加大在首相斯塔默身上，长期英国借款成本跃升至多年高点——更新 By Renae Dyer and Miriam Mukuru Yields on 30-year U.K. government bonds rose to their highest since 1998 and sterling fell Tuesday as fiscal concerns mounted on the prospect of Prime Minister Keir Starmer stepping down. Ten-year U.K. borrowing costs also jumped to their highest since 2008. Keir Starmer resisted growing pressure to resign in a crucial meeting with cabinet ministers. Starmer told his cabinet that the Labour Party has a process for challenging a leader and this hasn't been triggered, according to media reports. "The country expects us to get on with governing," he said. However, Starmer has faced mounting calls from Labour lawmakers to step down after the party suffered significant losses in last week's local elections. By Monday night, 75 of Labour's 403 lawmakers had publicly called on Starmer to make way for another leader. Support from 81 lawmakers is required to officially trigger a leadership contest. Some investors are concerned that should a more left-leaning Labour leader replace Starmer, this could lead to increased government spending and worsen public finances. Such a scenario would likely push gilt yields even higher and weaken sterling, analysts said. "A leadership contest whether immediate or more drawn out will add to political uncertainty in the near term, which is negative for the pound and gilts. The risk of a bigger selloff will increase if Labour shifts toward the left," Lee Hardman, senior currency analyst at MUFG, said. Yields on 30-year U.K. government bonds, known as gilts, rose to a multiyear high of 5.813%, surpassing last week's peak, according to LSEG data. Ten-year gilt yields rose more than 10 basis points to a peak of 5.135%, Tradeweb data showed. Bond markets are "frazzled by concerns that a different U.K. Prime Minister might take a different view on borrowing, relaxing fiscal rules or extending them, and may introduce more legislation that the market would view as potentially damaging to economic growth," said Anna Macdonald, investment strategy director at Hargreaves Lansdown. "This would mean that investors, of which 25-30% are overseas buyers of U.K. government bonds, demand a higher risk premium," she said. Sterling fell to a near three-week low against the euro at 0.8697 pounds and a one-week low of $1.3499 against the dollar in early European trade, according to LSEG data. "In the markets, the focus seems to be shifting less and less on whether, and more on when, Starmer will have to step down," Commerzbank foreign-exchange analyst Michael Pfister said in a note. What matters most are the views of any successor, Pfister said. Even though Starmer has become unpopular, he has aimed to balance the budget and potential successors might see things differently, he said. If there is a U.K. leadership change, it risks a shift toward left-wing policies which could favor higher public spending and potentially more government borrowing, Berenberg economist Andrew Wishart said in a note. That would put a risk premium on U.K. assets, he said. Write to Renae Dyer at renae.dyer@wsj.com and Miriam Mukuru at miriam.mukuru@wsj.com (END) Dow Jones Newswires May 12, 2026 05:52 ET (09:52 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. ### 相关股票 - [FXB.US](https://longbridge.com/zh-CN/quote/FXB.US.md) - [IGLT.UK](https://longbridge.com/zh-CN/quote/IGLT.UK.md) - [8306.JP](https://longbridge.com/zh-CN/quote/8306.JP.md) - [MUFG.US](https://longbridge.com/zh-CN/quote/MUFG.US.md) - [LSEG.UK](https://longbridge.com/zh-CN/quote/LSEG.UK.md) - [TW.US](https://longbridge.com/zh-CN/quote/TW.US.md) - [CBK.DE](https://longbridge.com/zh-CN/quote/CBK.DE.md) - [CBK.NA](https://longbridge.com/zh-CN/quote/CBK.NA.md) ## 相关资讯与研究 - [英国国债收益率走高 伯纳姆准备挑战斯塔默](https://longbridge.com/zh-CN/news/286541027.md) - [英国国债大跌 投资者为伯纳姆挑战斯塔默做准备](https://longbridge.com/zh-CN/news/286590367.md) - [英国首相斯塔默拒设离职时间表](https://longbridge.com/zh-CN/news/286727269.md) - [英国政坛 “黑马” 吓坏市场？对冲基金重仓做空英镑，看跌期权成交量暴增](https://longbridge.com/zh-CN/news/286722443.md) - [日本超长期国债收益率下跌 投资者对美伊有望达成协议抱乐观预期](https://longbridge.com/zh-CN/news/287166900.md)