--- title: "隨着壓力加大在首相斯塔默身上，長期英國借款成本躍升至多年高點——更新" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/286075677.md" description: "英國 30 年期政府債券收益率達到了自 1998 年以來的最高水平，而 10 年期借貸成本也大幅上升，因在地方選舉中遭遇重大失利後，首相基爾·斯塔默面臨越來越大的辭職壓力。75 名工黨議員呼籲斯塔默辭職，擔心一位左傾的繼任者可能會導致政府支出增加，進一步惡化公共財政。這種政治不確定性對英鎊和國債收益率產生了負面影響，因為投資者對英國資產要求更高的風險溢價" 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) --- # 隨着壓力加大在首相斯塔默身上，長期英國借款成本躍升至多年高點——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. ### 相關股票 - [FXB.US](https://longbridge.com/zh-HK/quote/FXB.US.md) - [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 - [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) - [英國國債收益率走高 伯納姆準備挑戰斯塔默](https://longbridge.com/zh-HK/news/286541027.md) - [英國 4 月通膨降至逾一年低位 英鎊應聲下跌](https://longbridge.com/zh-HK/news/287067223.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) - [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)