--- title: "隨着對首相斯塔默的壓力加大，長期英國政府債券收益率躍升至多年高位" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/286063868.md" description: "英國 30 年期政府債券收益率達到自 1998 年以來的最高水平，這一情況是由於對首相基爾·斯塔默（Keir Starmer）領導能力的擔憂，尤其是在工黨地方選舉失利的背景下。投資者擔心工黨領導層可能出現向左轉的趨勢，這可能導致政府支出增加，進一步影響公共財政，並推動國債收益率上升。英鎊對歐元和美元也出現下跌。分析師警告稱，圍繞斯塔默未來的政治不確定性可能會對英鎊和國債產生負面影響，領導層的變動可能帶來左翼政策和更高公共支出的風險" datetime: "2026-05-12T08:46:30.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286063868.md) - [en](https://longbridge.com/en/news/286063868.md) - [zh-HK](https://longbridge.com/zh-HK/news/286063868.md) --- # 隨着對首相斯塔默的壓力加大，長期英國政府債券收益率躍升至多年高位 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. Starmer faced a crucial cabinet meeting Tuesday as he tried to avert a leadership challenge after Labour had significant losses in last week's local elections. 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 high of 5.802%, surpassing the previous week's peak, according to LSEG data. Ten-year gilt yields rose 11 basis points to a seven-week high of 5.116%, Tradeweb data showed. 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. By Monday evening local time, 75 of Labour's 403 lawmakers had publicly called on Starmer to resign and make way for another leader. "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 04:39 ET (08:39 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. ### 相關股票 - [IGLT.UK](https://longbridge.com/zh-HK/quote/IGLT.UK.md) - [8306.JP](https://longbridge.com/zh-HK/quote/8306.JP.md) - [MUFG.US](https://longbridge.com/zh-HK/quote/MUFG.US.md) - [LSEG.UK](https://longbridge.com/zh-HK/quote/LSEG.UK.md) - [TW.US](https://longbridge.com/zh-HK/quote/TW.US.md) - [CBK.DE](https://longbridge.com/zh-HK/quote/CBK.DE.md) - [CBK.NA](https://longbridge.com/zh-HK/quote/CBK.NA.md) ## 相關資訊與研究 - [英國政局三大走向：對英鎊及英國國債市場的潛在衝擊](https://longbridge.com/zh-HK/news/285945153.md) - [避險基金加大英鎊看跌押注 曼徹斯特市長或挑戰英國首相施凱爾的地位](https://longbridge.com/zh-HK/news/286779472.md) - [施紀賢重申不會辭去英國首相職務 稱將展示自己有能力逆轉形勢](https://longbridge.com/zh-HK/news/286806766.md) - [英媒爆料：施凱爾打算辭去英國首相職務](https://longbridge.com/zh-HK/news/286663155.md) - [無下台時間表 英國首相施凱爾：將「繼續奮戰」](https://longbridge.com/zh-HK/news/286788978.md)