UK 10-year government bond yields spike following the resignation of the second-highest senior aide to Starmen.

British government bond continued its morning decline, with yields rising to intra-day highs, as investors concerned about political instability following the resignation of Prime Minister Keir Starmer's second senior aide. The yield on the 10-year UK government bond jumped by 5 basis points to 4.57% at one point, while the 30-year yield saw a similar increase to 5.39%. Tim Allan, the communications director at Downing Street, announced his resignation on Monday, stating that it was to "create conditions for the formation of a new Downing Street team." Allan is the second senior aide to Starmer to resign within 24 hours, following Chief of Staff Morgan McSweeney's resignation on Sunday amid fallout from a scandal involving former Labour ambassador to the US Peter Mandelson and convicted pedophile Jeffrey Epstein.